Korian announces the acquisition by Senior Living Group, its Belgian subsidiary, of 8 facilities from the Senior Assist group. These facilities, which are located in Flanders and Wallonia, are highly complementary with Korian’s current network in Belgium and provide a solid development outlook in coming years. The portfolio acquired is comprised of recent facilities, five of which were opened within the last 18 months. The purchase price was undisclosed.
This acquisition provides additional capacity of around 1,000 beds, thereby increasing the number of beds the Group operates in Belgium to over 9,500 units. For the most part, this acquisition consists of long-term care nursing home beds, as well as assisted living facility activities, and is therefore entirely consistent with the Group’s strategy.
Following the acquisition of Foyer de Lork in 2016 and of OTV (specialised in home care services in Flanders) early 2017, Korian continues to pursue its dynamic growth strategy in Belgium and has consolidated its position as the leader in the Belgian market for support and healthcare services dedicated to seniors.
In 2016, Korian generated pro forma1 revenue of about €320m in Belgium. As at 31 March 2017, the Group operated 78 facilities in Belgium, with over 7,800 long-term care nursing home beds and over 950 assisted living facility apartments, as well as an extensive range of home-care services. It has a workforce of over 6,200 employees.