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Korian Medica EU:KORI Euronext Ordinary Share
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Korian Strengthens Its Healthcare Activities and Creates a Business Line Dedicated to Mental Health in Italy

06/09/2021 10:51am

Business Wire


Korian Medica (EU:KORI)
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  • Acquisition of Gruppo Sage family group specializing in mental health, operating in Lazio
    • 9 facilities located near Rome with a capacity of 568 beds
    • Revenue of 22.5 million euros (2019)
    • Acquisition of the premises of 6 facilities
  • Strengthening of the healthcare offer in Tuscany with the acquisition of an outpatient care center in Florence
    • Monthly capacity of more than 1,400 patients located in the center of Florence
    • Revenue of 10.5 million euros (2019) with the CDC Leonardo clinic acquired last June
  • Creation of a business line dedicated to mental health in Italy

Regulatory News:

Korian (Paris:KORI), the leading European care services group for elderly and fragile people, is pursuing its targeted acquisition strategy (bolt-on) to strengthen its healthcare networks in Tuscany, Lazio and Piedmont, and announces the creation of a business line dedicated to mental health in Italy.

Korian Italy acquired last August Gruppo Sage, a regional player specializing in mental health. Gruppo Sage operates 9 facilities in Lazio, all ISO 9001 certified and located in Rome and Viterbo, for a total capacity of 568 beds, of which 254 are dedicated to the treatment of psychiatric pathologies. Korian Italy also acquires the walls of 6 of the facilities.

Gruppo Sage, which benefits from an excellent reputation, is the leading private player in mental health in the Lazio region and works closely with the main public hospitals in the region.

Revenue of 22.5 million euros in 2019 should continue to increase by at least 10% by 2023 thanks to the opening of additional beds to cover the needs of the territory in terms of mental health. The 9 newly acquired facilities will also operate in close synergy with the consultation and diagnostic centers and the long-term care facilities already operated by Korian Group in the Rome region.

Thanks to this acquisition, and with a capacity of around 600 full hospital beds, Korian is positioned as one of the leading private players in mental health in Italy, like France and Spain, while care needs are growing very rapidly.

As a reminder, the Group plans to generate sales of around € 250 million in mental health on a European scale in 2022 and intends to actively pursue the development of these activities by focusing on innovative therapeutic approaches adapted to the management of mood disorders and depression, in order to meet the growing care needs in this area, particularly in the new context created by the Covid.

In addition, Korian acquired last July the Leonardo da Vinci Centro Medico Diagnostico outpatient center located in the heart of Florence. This specialized center can accommodate more than 1,400 patients per month.

This acquisition complements that of the CDC Leonardo surgical clinic in Florence, with a capacity of 60 beds, integrated into the scope of the Group last June.

The integration of these two structures, which jointly generated a revenue of around 10.5 million euros in 2019, allows the Group to further strengthen its care offer for chronic patients in Tuscany, a region in which it is the leading private operator, with a network of 12 facilities specializing in rehabilitation, post-acute and long-term care, with a capacity of around 1,200 full hospital beds and 3 outpatient centers, and a revenue in 2019 of 110 million euros, with strong business synergies.

In addition, it is reminded that Korian also acquired in June 2021 the family group Santa Croce, thus developing its health platform in Piedmont.

The integration into the Korian Group network of family groups that are well established in their territories is fully in line with the Group's profitable growth strategy, which combines organic development and targeted acquisitions negotiated over-the-counter to enrich the offer of medical care for chronic patients (post-acute and rehabilitation care, mental health).

Next financial publication - 28 October 2021 : 3rd quarter 2021 revenue

About Korian

Korian, the leading European care services group for elderly and fragile people. www.korian.com

Korian has been listed on Euronext Paris Section A since November 2006 and is included in the following indices: SBF 120, CAC Health Care, CAC Mid 60, CAC Mid & Small and MSCI Global Small Cap

Euronext ticker: KORI - ISIN: FR0010386334 – Reuters: KORI.PA – Bloomberg: KORI.FP

INVESTOR RELATIONS

Sarah Mingham VP Investor Relations & Financing sarah.mingham@korian.com Tel: +33 (0)1 55 37 53 55

Carole Alexandre Deputy Head of Investor Relations carole.alexandre@korian.com Tel: +33 (0)7 64 65 22 44

MEDIA

Jean-Marc Plantade Head of Press Relations jean-marc.plantade@korian.fr Tel: +33 (0)7 62 90 32 58

Cyrille Lachèvre Deputy Head of Press Relations cyrille.lachevre@korian.fr Tel: +33 (0)7 61 53 54 86

Marjorie Castoriadis Head of Media Relations marjorie.castoriadis@korian.fr Tel: +33 (0)7 63 59 88 81

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