Frankfurt, 23 September 2015. Following the acquisition of Residenz Gruppe Bremen (3,006 beds) in July 2015, the perfect foil for the network in North Western Germany, ORPEA has signed another deal in September, acquiring the Vitalis regional nursing home group (2,487 beds). ACXIT Capital Partners acted as exclusive financial advisor to ORPEA in this transaction. The parties agreed not to disclose any details of the transaction.
Further international expansion of ORPEA in Germany with acquisition of Vitalis GroupThe network consists of 2,487 beds in 25 facilities (including 295 beds under construction). Vitalis represented an ideal opportunity to bolster ORPEA’s presence in Germany in line with its criteria for acquisitions:
Vitalis is expected to generate revenues of €58 million in 2015 and will be consolidated from 1 January 2016. The acquisition will be funded solely using the Group’s cash reserves.
This transaction will accelerate ORPEA’s growth in Germany, as Vitalis significantly improves the positions all over Southern Germany (Bavaria) as well as in South Eastern Germany (Saxony), where ORPEA had a limited presence so far. In both regions, ORPEA has now ideally positioned platforms for further organic growth.
ACXIT Capital Partners, represented by Thomas Klack and his team, acted as financial advisers, with CMS Hasche Sigle acting as ORPEA’s legal counsel.
In parallel with these two complementary acquisitions completed since summer, ORPEA has been very actively setting up new facilities in Germany. Since the beginning of the year, the Group has launched the construction of 1,607 beds in 14 facilities and extensions.
These projects, which are due to open over the next few years, will create substantial value: feature strategic locations in urban areas, a single room rate of 100%, the latest generation of high-calibre equipment, and a real estate concept designed by ORPEA’s teams in Germany.
In less than two years, ORPEA has built a German network of 16,074 beds at 156 facilities, including 2,935 beds under construction. ORPEA now ranks as Number 3 of Germany’s private nursing home operators.
Founded in 1989, and listed on Euronext Paris since April 2002, ORPEA is a European leader in integrated Long‐Term Care and Post‐Acute Care. The Group has a unique network of 690 healthcare facilities, with 67,987 beds (10,439 of them under refurbishment or construction), including:
About ACXIT
ACXIT Capital Partners is a leading independent corporate finance and investment advisory firm for mid-market clients and entrepreneurs in Europe and beyond. Since 1998, ACXIT offers its clients comprehensive corporate finance advisory services including M&A and capital markets advisory as well as restructuring, equity/debt and strategic advisory. As an independent, privately owned firm we maintain offices and representations in Frankfurt, Berlin, Munich, Leipzig, Zurich, Hong Kong and New York, as well as strong alliances in France, China and India. (www.acxit.com)
PRESS CONTACT
ACXIT Capital Holding GmbH
WestendDuo
Bockenheimer Landstraße 24
60323 Frankfurt am Main
Germany
www.acxit.com
facebook.com/acxitcapital
twitter.com/acxitcapital
xing.com/companies/acxitcapitalpartners
linkedin.com/company/acxit-capital-partners
Dr. Hartmut Vennen
Senior Managing Director, Strategic Communications
FTI Consulting
Park Tower | Bockenheimer Anlage 44
60322 Frankfurt am Main
Phone: +49 69 92037 137
Mobile: +49 160 895 5858
E-mail: hartmut.vennen@fticonsulting.com
