KOS (CIR group): Two new acquisitions in Lombardy. More than 5,500 beds now in operation

Two nursing homes (RSAs) acquired in the province of Milan, for a total of 297 beds.
The deal is based on an enterprise value of 23 million euro. 

Milan, March 3 2010
 – KOS SpA, the company of the CIR group active in the long term care and healthcare sectors, has finalized the acquisition of two skilled nursing homes (RSAs) in the province of Milan. The two facilities, situated in Segrate and in Cassina De’ Pecchi, have between them a total of 297 beds (150 and 147 respectively).  
The deal, carried out by the subsidiary Residenze Anni Azzurri srl, took place on the basis of an enterprise value of approximately 23 million euro, including 12 million relating to the purchase of the property which houses one of the two homes.    
Revenues reported in 2009 by the two RSAs amounted to approximately 12 million euro. The assets acquired extend the network of care homes of Anni Azzurri in the Milan area, where the company is already present with four homes plus another one under construction.  
“This deal – commented Giuseppe Vailati Venturi, Chief Executive of the KOS groupis part of the strategy of growth and market consolidation that we have been pursuing since the company was founded. With these acquisitions KOS, through its subsidiary Anni Azzurri, has strengthened its leadership nationwide in the sector of nursing homes, reaching a total of 40 facilities. Our growth objectives go hand in hand with our commitment to continue to improve the services offered to the patients of all our nursing homes”.  
Following this acquisition, the number of beds managed by KOS has reached 5,555, plus another 388 under construction.

The KOS group is active in three sectors:  
–          RSAs (skilled nursing homes), with 40 nursing homes under management (4,133 beds in operation and 336 under construction);
–          Rehabilitation (management of hospitals and rehabilitation centres), with 10 rehabilitation units (in Lombardy, Emilia Romagna, Trentino and Marche), 9 psychiatric rehabilitation communities (in Liguria, Piedmont and Lombardy) and 13 day hospitals, for a total of 1,292 beds in operation and 52 beds under constructions;
–          Hospital management (hospitals and high-tech services in hospitals), with one hospital and 7 diagnostic imaging departments.        

KOS (http://www.kosgroup.it/) KOS (CIR group) is one of the principal Italian operators in the long term care and healthcare sectors. Established in 2002, the company is active in three areas in particular: skilled nursing homes (RSAs), hospitals and rehabilitation centres, hospital management (managing hospitals and high-tech services in hospitals). The KOS group operates in the Italian market through the companies Residenze Anni Azzurri (RSAs), Istituto di Riabilitazione Santo Stefano and Redancia (Rehabilitation), Ospedale di Suzzara and Medipass (Hospital management). The group manages over 60 facilities in the north and centre of Italy with a total of 5,555 beds, plus a further 388 under construction. In 2009 KOS reported consolidated revenues of 273.4 million euro. The group had approximately 3,400 employees at the end of 2009.

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