ORPEA has decided to partner with the SIS Group to expand and grow in these two countries. The SIS group is a family-owned company that holds all the shareholdings and businesses of Philippe Austruy, a well-known entrepreneur and a pioneer in Europe’s private health and the sector of long-term care. Over the past 40 years, he has been involved in the restructuring of the sector in France, setting up Générale de Santé, Medidep and, more recently Mediter and Medibelge (acquired by ORPEA in late 2010).
This will speed up ORPEA’s expansion by several years, and ORPEA will also benefit from SIS’ experience in both countries.
ORPEA and SIS have set up two joint ventures – one in Portugal and the other in Brazil – in which ORPEA owns 49% of the capital with an option to buy the remainder exercisable over the next few years. All development projects are considered and reviewed jointly by SIS’ and ORPEA’s teams, with ORPEA taking charge of operational management. Following its real estate strategy, ORPEA will ultimately hold a majority part (over 50%) of the facilities to be built in each country.