Crowe advises on Belmont House nursing home acquisition

Crowe were delighted to assist Orpea Groupe / Brindley Healthcare in their acquisition of Belmont House Nursing Home, which was recently signed. The acquisition requires approval from the Competition and Consumer Protection Commission.

Belmont House is a 161-bed HIQA-approved centre located in Stillorgan, Co. Dublin. It facilitates a range of care from independent living, within a nursing home setting, right through to high dependency care. Orpea, which is listed on the Euronext stock exchange in Paris, is a leading international care home provider with over 110,000 care beds located in 22 countries. 

Orpea has been an active acquirer in the Irish market over the past two years. Since first entering the market in 2020, Orpea has acquired the Brindley Healthcare and TLC Group of nursing homes, accumulating a chain of 15 nursing homes and almost 1,250 beds, with a strong pipeline.

Sector consolidation

Naoise Cosgrove commented: “We are pleased to assist Orpea with their recent acquisition of Belmont House. The transaction marks a significant milestone for Orpea as they grow their footprint in Ireland and is further evidence of the continuing consolidation that we are seeing across the Irish care home landscape.

“While 2020 was a very challenging year for the nursing home sector from an operational perspective due to COVID-19, it is still a very attractive investment class. There is considerable interest from domestic and European operators to acquire well run nursing homes. We expect consolidation to continue as a result of the strong fundamentals underpinning the sector. With an aging population and a shortage of beds. It is estimated that there is demand for up to 7,500 new beds in the market over the next five years.”

Crowe provides a wide range of services to nursing home and healthcare clients in Ireland and internationally. With deep industry expertise, we regularly support clients with acquisitions, disposal strategies and financing needs.