Tuesday, June 18, 2019
Home Business Korian expands its network in Spain - Indices & Actions

Korian expands its network in Spain – Indices & Actions

Korian has announced the acquisition of six retirement homes from Grupo 5, a Spanish healthcare provider specializing in the areas of mental health, neurological rehabilitation and social reintegration, which is selling these facilities to refocus on its core business.

The acquired sites are on the island of Mallorca, in the Balearic Islands, have nearly 700 beds and have 130 additional day-care places.

These houses will be operated by Korian under concession contracts with an average duration of 27 years.

Our recommendation for KORIAN: SAVE

This operation is part of the French group's internationalization strategy and its deployment in the Iberian Peninsula. Korian acquired at the beginning of the year the company Seniors, which operates seven establishments in Andalusia and two others in Valencia for a total of more than 1300 beds. With this new acquisition, the group now has a platform of 15 sites for 2,160 beds in Spain, which will generate approximately 34 million euros of annual turnover. This acquisition, even the amount is not specified, is not likely to destabilize the financial structure of the company. Management also indicates that it will continue to seek opportunities in the country to strengthen its establishment. Keep.

Course to date of the council: $ 36.24

Course objective: 40 € is a potential of + 10.4%

Investor profile: for all

Investment Horizon: 12 months

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