The company, which faces legal action in France over allegations of mistreatment of elderly residents and embezzlement of public funds, will announce fully audited first-half results on September 28th.
Orpea said in June that an independent audit had found evidence of financial wrongdoing - including inflated labour expenses and suspicious large payments to third parties - but did not support all allegations against the company. Orpea is a global player in the long-term care market, operating 104,234 beds in 1,014 care homes across 22 countries, of which 20,932 beds are currently under construction.
The purchase came a little over a year after Orpea entered the Irish market by buying the TLC Nursing Home portfolio, made up of 674 beds, for €150 million from Michael Fetherston. It subsequently bought the Brindley Healthcare care home group in two stages, giving it another 574 rooms. Brindley subsequently acquired Belmont Care, a nursing home in Stillorgan, south Dublin, adding a further 161 beds.