The ORPEA group, one of the main world leader in long-term care (nursing homes, post-acute and
rehabilitation hospitals, psychiatric hospitals, and homecare services), announces its revenue for
the third quarter of 2017 to 30th September.
9 months revenues up by 10.3%
Spitex in Switzerland has been consolidated since 1st January 2017, Anavita in the Czech Republic since
1st April 2017, and Dr. Dr. Wagner in Austria since 1st July 2017.
1 Organic growth is calculated based on an equivalent number of days to 2016 and reflects the following factors: 1. The year-on-year
change in the revenues of existing facilities as a result of changes in their occupancy rates and daily rates; 2. The year-on-year
change in the revenues of redeveloped facilities or those where capacity has been increased in the current or year-earlier period;
3. Revenues generated in the current period by facilities created in the current or year-earlier period, and the change in revenues at
recently acquired facilities by comparison with the previous equivalent period.
Yves Le Masne, Chief Executive Officer of ORPEA, commented:
“Our growth momentum continued throughout the third quarter, as we recorded a revenue growth of
+10%. The key drivers were a dynamic organic growth in all territories (+4.9%) and the contribution from
our recent acquisitions, chiefly Dr. Dr. Wagner in Austria and the Spitex homecare network in
Our quarterly performance illustrates the expansion of the international strategy initiated several years
ago, with an accelerating of revenue growth across the international markets to reach over 20% as a
result of both organic growth and acquisitions. International markets now contribute to 45% of our
revenue, up from less than 30% just three years ago.
Over the first nine months, our revenue grew by +10.3% to €2,323 million, with over half attributable to
organic growth (+5.3%) driven by:
– consistently high occupancy rates in mature facilities across the network
– the ramp-up in the opening of facilities internationally over the past two years
– the opening of over 1,400 beds over the first nine months (new facilities and extensions).
We continued to pursue our strategy of selective external growth, with the acquisition of Inoges in
Germany. Its expertise in outpatient rehabilitation, an innovative sector with a strong growth as a result
of support from public authorities and patient demand, perfectly fits with the Celenus Kliniken network
of post-acute and rehabilitation hospitals. We also continued to initiate a number of projects to build
new international facilities, especially our new territories, to further raise our profile and increase our
We are confidently restating our full-year revenue target of over €3,125 million (a 10% increase
compared to 2016), together with margin improvement.”
Acquisition of Inoges, the German leader in outpatient rehabilitation
Celenus Kliniken, the ORPEA subsidiary managing rehabilitation facilities in Germany, has acquired a
majority shareholding in Inoges. Founded in 2003 by its current manager, Inoges is the German leader in
outpatient rehabilitation (equivalent to day hospitals). Inoges has 30 locations (including 2 inpatient
rehabilitation facilities) in urban areas close to hospitals, primarily in North Rhine-Westphalia Hesse and
In approximately 15 years, Inoges has developed an innovative offering recognized for its quality through
the Salvea brand, which has a solid reputation.
Outpatient rehabilitation has expanded at a very strong pace in Germany (growth of 13% p.a. over the
past 10 years), supported by both public authorities and private insurers, meeting increasingly strong
demand from patients.
Inoges recorded a 2016 revenue of €50 million. The transaction is still subject to clearance from the
For Celenus Kliniken, this acquisition represents a unique strategic opportunity to build on its existing
inpatient rehabilitation offering and to generate synergies between the two businesses, with new
development opportunities in Germany.
Since its creation in 1989, ORPEA has expanded rapidly to become one of the main world leader in long-term care, with its network
of 798 facilities, with 82,838 beds (12,371 of them under construction or redevelopment), including:
33,122 beds in France (2,409 beds under construction or redevelopment) at 357 facilities
49,716 beds outside France (Austria, Belgium, Brazil, China, Czech Republic, Germany, Italy, Poland, Portugal, Spain and
Switzerland) at 441 facilities (9,962 beds under construction or redevelopment)
ORPEA is listed on Euronext Paris (ISIN code: FR0000184798) and a constituent of the SBF 120, STOXX 600 Europe, MSCI Small Cap
Europe and CAC Mid 60 indices.
Source : Company