The Spanish management company Corpfin Capital has completed the sale of a stake in Grupo 5, its nursing homes and day care centres for dependent elderly people, to the French group Korian (one of the leading European operators in the sector). The transaction includes only the centres in the Balearic Islands and is still subject to approval by the relevant competition authorities.

The objective pursued by Corpfin Capital with this transaction is to focus on the mental health and neurorehabilitation business of Grupo 5, a company in which it invested in the summer of 2017 and through which it entered the social healthcare sector.

Specifically, the transaction with Korian includes the sale of 696 residential places (private and publicly funded) and 130 day care places that Grupo 5 has across its centres in Manacor, Inca, Pollença, Sant Joan, Montuïri and Santa Margalida. These centres will be integrated into Seniors, a Spanish company that Korian acquired at the beginning of 2019 and which also operates nine nursing homes in Valencia and Andalusia.

In the words of Álvaro Olivares, managing partner of Corpfin Capital, “since 2017 Grupo 5 has had our support as financial partners, and between 2018 and 2020 it plans to invest more than €20 million in the development of new centres, among which are already operational the mental health facilities of Latina and Mirasierra in the Community of Madrid, and the expansion or opening of new neurorehabilitation units in Alcalá de Henares, Pamplona and Zaragoza. Several new centres currently under development in other Autonomous Communities will be added in the coming months.”

Want to know more?

Corpfin Capital y Grupo 5 venden su negocio geriátrico al grupo francés Korian – Eleconomista.es
Corpfin Capital y Grupo 5 venden a Korian su red de centros geriátricos de Mallorca – Plantadoce.com