Korian reinforces its leading position in Belgium through its acquisition of a portfolio of 1,000 beds

PARIS--(BUSINESS WIRE)--Regulatory News:

Korian (Paris:KORI) 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.

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 €320 million 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.

¹ Figures for Foyer de Lork and OTV are given over a 12-month period.

ABOUT KORIAN

Korian, the expert in providing care and support services for seniors, with 715 facilities, operates Europe’s largest network of long-term care nursing homes, specialised clinics, assisted-living facilities, home care and hospital home care services. At the end of December 2016, the Korian group has the capacity to accommodate around 72,000 beds in four countries (France, Germany, Belgium and Italy) and employs around 47,000 people.

For more information, please visit our website at www.korian.com

Korian has been listed on Euronext Paris Compartment A since November 2006 and is a component of 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