Paris, 23 October 2014
As part of its strategy of assertively investing in the French private equity market, CNP Assurances has invested €25 million alongside the PAI Europe VI fund in France’s third largest privately-owned care home operator.
For CNP Assurances, this transaction represents an opportunity to invest in the care home sector in France and to strengthen its position in the growing and resilient healthcare market that is currently consolidating. It will further enhance the Group's €1.7 billion private equity portfolio.
As France’s leading personal insurer whose strategic priority is to develop the protection business, CNP Assurances also considers this investment as a means of providing lasting support to a recognized expert in the provision of long-term care to the elderly.
“In order to implement our strategy of investing in private equity, we have been targeting companies with good growth potential for several years now, along with our main portfolio managers. Our acquisition of a stake in DomusVi clearly fits in this long-term strategy,” said Nicolas Monnier, the head of CNP Assurances’s private equity department.
DomusVi, over 10,000 employees dedicated to serving the elderly
DomusVi is the only of the three major privately-owned French care home operators to offer a full range of services for the elderly, with 182 nursing homes and 15 residential homes. DomusVi also offers nursing and non-medical in-home services for the elderly, provided by around fifty agencies in the entire country.