EIB Continues Support for Korian’s Mission to Provide Quality Care for Elderly Population in Germany

Germany: EIB finances Korian’s innovative co-living homes for the elderly
© Korian

(IN BRIEF) The European Investment Bank (EIB) is supporting the expansion of Korian, a European care services group for elderly and fragile people, with a loan of €150 million. The loan will finance the development of affordable community homes in Germany, adapted to the local social system. Korian already offers co-living homes in France under the brand Ages&Vie, which the EIB previously co-financed. The co-living homes will fill the gap between independent living and nursing care and consist of private rooms with shared amenities. Korian plans to open the first co-living home in 2024 in Bavaria and North Rhine-Westphalia.

(PRESS RELEASE) LUXEMBOURG, 9-Feb-2023 — /EuropaWire/ — The European Investment Bank (EIB), the lending arm of the European Union, announces its support for Korian, the leading European care services group for elderly and fragile individuals. The EIB has granted a loan of €150 million to finance the expansion of Korian’s co-living homes in Germany.

Korian, which is already present in Germany, offers affordable and community-based homes adapted to the German social system. The co-living homes, under the brand name Ages&Vie, are designed to fill the gap between independent living and nursing care and cater to elderly individuals with a low dependency level. The residences consist of two modules, each with 12 units and private rooms with bathrooms, as well as shared kitchen and leisure areas.

In France, the Ages&Vie brand operates in ten regions across the country and offers co-living solutions in small homes with live-in care persons. With an average occupancy rate of above 95%¹, Ages&Vie has proven to be a successful and highly demanded concept.

Germany faces a growing demographic pressure, with a projected 18% increase in its elderly population by 2030. To meet the increasing demand for home-based care solutions, Korian plans to open co-living homes in Bavaria and North Rhine-Westphalia, with the first facility expected to open in 2024.

EIB Vice-President Ambroise Fayolle, who is responsible for activities in Germany, says: “The EIB is proud to address demographic challenges together with Korian in several EU Member States. In most EU countries, elderly people and their relatives are desperately seeking affordable care facilities that can become home for these older people, which is often difficult, especially in rural areas. Korian’s solution has proven reliable, supporting older people’s well-being.”

“We are delighted to receive the continued support and confidence of the EIB as we expand our co-living home care solutions across Europe. The Bank’s support is important as it shows the relevance of these solutions for Europe as it faces a decade of huge change in demographic terms,” said Sophie Boissard, Chief Executive Officer of Korian. “We are committed to continuing to innovate to provide tailored solutions across Europe to support people who choose to live at home in old age.”

Korian operates a network of over 1,100 facilities in seven countries across Europe, serving 700 local communities and generating a revenue of €4,311 million in 2021. As a European company listed on Euronext Paris, Korian is committed to providing quality care and support for the elderly and fragile population.

The EIB previously co-financed the Ages&Vie brand in 2020 and 2021, granting a loan of €135 million, and is proud to continue its support for Korian’s mission to deliver affordable and community-based care solutions for the elderly population.

¹Excluding houses under ramp-up

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SOURCE: European Investment Bank


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