Icade Santé Acquires the Hôpital de la Loire in Saint Etienne

Regulatory News :

Icade Santé (Paris:ICAD) has acquired the Hôpital de la Loire, a private hospital in Saint-Etienne (Loire), from the ACAPACE Group and a family investment company SOFIVAL, for 58 million euros including duties. The hospital is a 305-bed medical, surgical and obstetrician facility, operated by the Générale de Santé group.

As part of the acquisition, a new lease was agreed between Icade Santé and the Générale de Santé group for an initial fixed term of 12 years.

Following this acquisition, Icade Santé owns 58 healthcare establishments, including 13 with the Générale de Santé group, confirming its role as the sector leader. The appraisal value of its portfolio, excluding duties, is more than 1.8 billion euros.

As a reminder, in May 2013 Icade Santé, the 57%-owned subsidiary of Icade dedicated to investing in healthcare real estate, announced a further capital increase of 110 million euros carried out with an institutional investor via an OPCI (real-estate mutual fund).

About Icade:
Icade is a listed real estate company, a subsidiary of Caisse des Depôts: an investor, developer and service provider in private and public property. Expertise in its different business lines enables Icade to provide comprehensive, sustainable and innovative solutions that are tailored to customer needs.
In 2012, Icade recorded consolidated turnover of 1,499.3 million euros and net current cash flow of 251.4 million euros. At 31 December 2012, the re-valued liquidation net asset value stood at 4,190.1 million euros or 80.7 euros per share.

Icade Santé, the number one real-estate investment company in healthcare, is the leading investor in private clinics. It is 57%-owned by Icade and 43% by major institutional investors. As at 31 December 2012, turnover stood at 90.9 million euros while triple-net NAV was 1032.3 million euros.