emeis: Signature of an Agreement Terminating the Partnerships and Business Relationships Initiated by the Former Management Team With Mr. Tribuno

PUTEAUX, France--(BUSINESS WIRE)--Regulatory News:

emeis (Paris:EMEIS) announces that it has reached an agreement with Mr Tribuno terminating their relations which have existed since the beginning of the 2000s as well as those existing between the companies held directly or indirectly by Mr Tribuno and emeis.

Under this agreement, emeis acquired companies previously held directly or indirectly by Lipany S.A. (Luxembourg) and Rodevita S.A. (Luxembourg), which own property and operating assets in Italy, mainly relating to the operation of nursing homes.

This agreement puts an end in a constructive way to all relations between emeis and Mr Tribuno and to any disputes that may have existed between the parties.

The transaction involves the acquisition of the entire share capital and voting rights of 17 companies¹ based in Italy, Luxembourg and Germany. Lipany S.A. (Luxembourg), Rodevita S.A. (Luxembourg) and Rodevita SpA (Italy) are not included in the scope of consolidation taken over by emeis.

Upon completion of this transaction, emeis will own a high-quality portfolio of 15 buildings, almost all of them nursing homes (11 in Italy, 4 in Germany, 3 of which are currently under construction). At the same time, emeis will take over the operations of 7 nursing homes in Italy, 4 of which 4 are already operated and 3 are due to open at a later date, as well as a clinic activity.

The total value of the assets acquired (tangible and intangible assets) is estimated by emeis at around €110 million. This value should be considered along with the external financial debt of the companies acquired, estimated on the basis of due diligence carried out, at around €130 million, of which around €100 million benefited from a guarantee issued by the parent company of the emeis Group – consequently leading to the recording of an off-balance sheet commitment for the same amount at 31 December 2023.

Given the various provisions recorded in 2022 and 2023 in the emeis accounts in connection with this partnership, emeis considers that no additional provisions should be recognised in connection with this transaction.

The scope of the transaction, which was concluded in the interests of emeis, will be fully consolidated in the Group's accounts in the second half of 2024.

About emeis
With nearly 78,000 experts and professionals in healthcare, care, and supporting the most vulnerable among us, emeis operates in around 20 countries with five core activities: psychiatric clinics, post-acute and rehabilitation clinics, nursing homes, home care services, and assisted-living facilities.

Every year, emeis welcomes 283,000 residents, patients, and other beneficiaries. emeis is committed and is taking action to rise to a major challenge facing our society, i.e., the increase in the number of people placed in vulnerable positions as a result of accidents or old age, and the rising number of cases of mental illness.

emeis is 50.2% owned by Caisse des Dépôts, CNP Assurances, MAIF, and MACSF Épargne Retraite. It is listed on the Euronext Paris stock exchange (ISIN: FR001400NLM4) and is a member of the SBF 120 and CAC Mid 60 indices.

Website: www.emeis.com/en

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¹ With the exception of two Italian companies in which a minority shareholder unrelated to Mr Tribuno will retain 10% of the capital and voting rights.