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Korian Creates the 3rd European Mental Health Platform After Completing Its Acquisition of Ita Salud Mental

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PARIS–(BUSINESS WIRE)–Regulatory news:

Korian (Paris:KORI), Europe’s leading care services group for the elderly and frail, has finalized the acquisition of Ita Salud Mental from Magnum Capital, after obtaining the necessary regulatory and antitrust clearances.

Ita Salud Mental is a group specializing in mental health with 39 establishments across Spain. Ita Salud Mental is the third player in Spain in number of beds or the second in turnover, with a strong presence particularly in Catalonia, Madrid and Valencia.

The network includes 27 hospital clinics and 12 day hospitals (including 2 branches) with renowned specialties in behavioral, personality and eating disorders, addictions and neurodevelopment and general psychiatry.

Following the acquisition of Inicea, a major player in France, in December 2020, Korian continues its development in mental health and creates the 3rd European platform present in France, Spain and Italy, resolutely focused on innovative and specialized care solutions in hospital and outpatient settings.

As of 2022, Korian expects to achieve revenue of around 250 million euros in mental health care within the Group and will continue to invest in innovative care in this area to provide responses to growing needs, in particular in a post Covid environment.

Indeed, mental health problems, from addictions to mood disorders, eating disorders and more serious psychiatric illnesses, are now one of the leading causes of chronic illness in Europe. 15% of the European population suffers from one form or another of mental health problems and the prevalence of these pathologies is expected to continue to increase given the ongoing pandemic.

About Korian

Korian, Europe’s leading care services group for the elderly and frail. www.korian.com

Korian has been listed on Euronext Paris Section A since November 2006 and is part of the following indices: SBF 120, CAC Health Care, CAC Mid 60, CAC Mid & Small and MSCI Global Small Cap

Euronext mnemonic: KORI – ISIN: FR0010386334 – Reuters: KORI.PA – Bloomberg: KORI.FP

1 By number of beds

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