French fund, Korian Group, has announced the acquisition of Grupo 5’s portfolio of six nursing homes on the Balearic Islands.
Grupo 5 is the pioneer and leading company in mental healthcare services and management of social emergency services in Spain. The Company manages around 30 mental health residential centers mainly in Madrid, and the social emergency services in Madrid, Andalucia and the Canary Islands. Following the add-on acquisition of Novaedat Baleares, Grupo 5 is also the market leader in elderly care in Baleares. Corpfin Capital had acquired Grupo 5 and Novaedat Baleares in a Buy and Build transaction back in 2017.
The acquisition of Grupo 5’s nursing homes activities follows the purchase in early 2019 of Spanish operator Seniors, which operates 7 high-end facilities in Andalusia as well as Groupe Omega which had two assets in Valencia. Korian now has a diversified portfolio of more than 1,300 beds, including nursing homes, assisted living and day care services.
Grupo 5’s properties, a total of six, are all located on the Balearic Islands and cater to 700 residents (with both private and concerted beds ) and 130 day centre visitors.
Guillermo Bell, CEO of Grupo 5, has stated that they are delighted to leave their nursing homes «in the care of the Korian Group that benefits from proven European expertise in this area and has a solid reputation in providing personalised and continuous care to the elderly», with this partial divestment, the group aims to focus on the development of new centres in the areas of mental health and neurologic rehabilitation.
The latest additions to Korian’s portfolio are all ISO 9001 certified thus meeting the group’s quality standards both in terms of comfort and care. In particular, they rely on experienced multidisciplinary teams that operate according a people-centered model to provide personalized and adapted care to the needs while promoting proximity as well as facilitating connection with families, in line with Korian’s Positive Care.
According to Sophie Boissard, CEO of Korian Group «Korian will continue to actively pursue its development in the Spanish market and will take advantage of the opportunities in the Balearic Islands to expand its historic business and to develop adjacent activities.”