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The Orpea Group's Board of Directors has removed Yves Le Masne from his position as CEO, effective January 30, 2022, after 28 years of service. Philippe Charrier has been appointed as the new Chairman and CEO, taking over from the non-executive chair role. Charrier's primary goal is to ensure best practices within the company and to address ongoing allegations through independent evaluations. Orpea operates 1,156 facilities globally, with 116,514 beds, including 26,359 under construction, across 23 countries, reaffirming its commitment to its employees and residents.
ORPEA has acknowledged serious allegations made by Mr. Castanet in his recently published book. In response, the company's Board of Directors, alongside General Management, has mandated two independent firms to conduct a comprehensive assessment of these allegations. These firms will have full access to ORPEA's information and facilities. The findings will be reported to the Board and communicated with relevant authorities. ORPEA maintains that it did not orchestrate any accused practices and expresses commitment to addressing the concerns of families, residents, and staff.
ORPEA has responded to allegations published in Le Monde regarding its operations, calling the claims false and damaging. The company insists that its staff maintain high ethical standards, evidenced by a 95% satisfaction rate in resident surveys. ORPEA emphasizes its adherence to strict regulations and the commitment of its teams, especially amid the health crisis. The company is considering legal action to defend its reputation and that of its employees, highlighting its expansive network of 1,156 facilities across 23 countries, with 26,359 beds under construction.
Icade Santé has announced preliminary agreements with ORPEA to acquire three nursing home properties in Germany for approximately €57 million. The portfolio includes 254 nursing home beds and 95 assisted-living apartments across 20,000 sq.m. The properties, which include a completed facility in Papenburg and two under-construction assets in Krefeld and Wathlingen, will have 15-year leases. This acquisition raises the number of facilities acquired by Icade Santé from ORPEA in Germany to 11, contributing to nearly €670 million in investments for 2021, exceeding initial forecasts.
ORPEA Group strengthens its management team by appointing Laurent Lemaire as Executive Vice President Finance and Administration. With over 30 years of experience, Lemaire aims to enhance financial management and optimize the group's international growth strategies. His role will include coordinating finance, real estate, legal, IT, and procurement. The appointment aligns with ORPEA's goal to accelerate international expansion and improve investment returns. CEO Yves Le Masne emphasized Lemaire's alignment with the group's values and the anticipated positive impact on financial structuring.
ORPEA Group announced a strong Q3 2021 with revenue increasing by 10.8% to €1,110 million. Organic growth stood at 5.7%, boosted by rising occupancy rates and the opening of over 1,000 new beds. The company raised its 2021 revenue guidance to exceed €4,275 million, now expecting growth of at least 9%. Key performance areas include solid gains in France, Benelux, and Central Europe. The Group's strategy of premium facilities and geographical diversification supports this growth.
ORPEA Group has responded to recent media coverage regarding police investigations into its past dealings. The investigations date back to March 2021, concerning the acquisition of a retirement home in France in 2008. ORPEA asserts it is fully cooperating with authorities and clarifies that it is not a party to the proceedings, lacking access to detailed files. The group claims there was no retro commission involved in the sale. Furthermore, ORPEA operates 1,156 facilities across 23 countries, with significant ongoing construction efforts.
ORPEA, a leading European healthcare real estate company, reported strong H1 2021 results, with revenue rising +8.7% to €2,070 million and net profit surging +40% to €102 million. The EBITDAR margin improved by 110 basis points to 24.9%. The real estate portfolio expanded by €463 million to €7.4 billion, bolstered by six acquisitions, adding nearly 5,000 beds. Despite a gross Covid-19 impact of €133 million, the company maintained a successful vaccination campaign with less than 0.2% positivity among residents. ORPEA reaffirms its revenue growth target for 2021, aiming for over €4,215 million.