The group of private retirement homes announced Monday that it had received a “promise to purchase” from the Fondation Santé Service to sell “all of its home hospitalization and home nursing services” activities. In France.
The group of private retirement homes Clariane (formerly Korian) should stop its home hospitalization activities. The group announced Monday that it had received a “promise to purchase” on behalf of the Fondation Santé Service to give it “all of its home hospitalization activities and home nursing care services” In France.
This sale is part of Clariane’s refinancing plan, announced in November, “which includes a program of disposals of operational and real estate assets as well as capital partnerships for an expected amount of approximately 1 billion euros of gross proceeds from disposals, intended to reduce its debt and its financial leverage”according to a press release from the group.
A sale to pay off the debt
The activities sold to the Fondation Santé Service bring together eight home hospitalization establishments, including two located in Ile-de-France, and three nursing and home help service agencies – or 309 employees. They represent a “turnover around 46.5 million euros”according to Clariane.
“The entire net proceeds from this sale will be used to repay the debt”adds the group, which was affected by difficulties in accessing financing, like the entire nursing home sector, in the wake of the scandal which highlighted financial embezzlement and mistreatment of residents at its private competitor Orpea (became Emeis).
With this operation, in addition to others carried out in March and April in the United Kingdom and the Netherlands, Clariane “would achieve a little more than 40% of its total disposal program”.
 announces a sale of its home hospitalization activities){kind=link}