On 31st January 2008, Advent International sold Casa Reha to HG Capital.
Headquartered in Oberursel, Germany, Casa Reha provides high-quality residential private nursing care at an affordable price in modern surroundings.
At the time of Advent’s acquisition in 2005, Casa Reha was Germany’s fifth largest nursing home operator. Under Advent’s ownership, an accelerated expansion programme saw the company become the country’s fastest growing private nursing home group, doubling its nursing home portfolio from 24 to 48 facilities nationwide and trebling annual turnover from €53 million to €159 million in a period of 24 months. Based on projected growth plans, Casa Reha is expected to become Germany’s second largest player in the industry.
In 2007, Casa Reha capitalised on the opportunities offered by Germany’s highly fragmented nursing home market through the acquisition of Sozialkonzept, a leading private nursing care group. With a total of 18 nursing home facilities and revenues of € 76 million in 2006, Sozialkonzept was a highly complementary strategic fit for Case Reha in terms of both geography and care services.
The group’s long term prospects remain excellent driven by the strong growth of the residential care market in Germany as a result of demographic and social factors. Casa Reha is strategically well positioned to benefit from this underlying demand and to create value from further consolidation opportunities.