Third largest1 mental health player in Spain
39 sites in key locations including Madrid and Valencia
27 inpatient clinics with c.900 beds and 12 outpatient clinics with a capacity for 10,000 sessions per month
Expected 2021 revenue c. €50 million and accretive to Group margins
High embedded growth with an expected CAGR of c.15% in revenue until 2024
- Creation of the 3rd pan-European mental health platform
Expected 2022 revenue c. 250 millions in France, Spain and Italy
Embedded growth c.10%
Korian (Paris:KORI), the leading European care services group for elderly and fragile people, has completed its acquisition of Ita Salud Mental from Magnum Capital, after obtaining the necessary regulatory and antitrust approvals.
Ita Salud Mental is a group specialised in mental health with 39 facilities across Spain. Ita Salud Mental is the third largest player in Spain by number of beds or second largest by revenue, with a strong presence particularly in Catalonia, Madrid and Valencia.
The network includes 27 inpatient clinics and 12 day hospitals (including 2 antennas) with reputed specialisations in behavioural, personality and eating disorders, addictions and neurodevelopment and general psychiatry.
Following the acquisition of Inicea, a major player in France, in December 2020, Korian pursues its development in mental health and creates the 3rd European platform with a presence in France, Spain and Italy, with a clear focus on innovative, specialised care solutions in an inpatient and outpatient environment.
From 2022 Korian expects to have revenue of around € 250 million from mental health care within the Group and will continue to invest in innovative care in this area to provide solutions to the growing needs, particularly in a post Covid environment.
Indeed, mental health conditions, from addictions, to mood disorders, eating disorders and more severe psychiatric diseases, are today one of the leading causes of chronic diseases in Europe. 15% of the European population suffers from one form or other of mental health conditions and prevalence of these pathologies is expected to continue rising given the ongoing pandemic.
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