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French operator of 112 health care centers in the Netherlands in serious financial trouble

French healthcare organization Orpea, which is also active in the Netherlands, is in serious financial trouble. The company owes him 9.5 billion euros. To reduce this, management wants to sell business units, sell real estate and exit some international markets, the company said on Tuesday.

Orpea was founded in 1989. According to figures on its site, the company operates 983 locations in 23 countries around the world, with approximately 72,000 employees providing care to more than 255,000 of his people.

In the Netherlands, Orpea owns the brands Allerzorg, Bloemendael, Compartijn, Dagelijks Leven, Van Hollant, Wonen bij September, Woonzorgnet and Zorggroep ‘t Zicht. Some of these organizations were acquired last year. According to Orpea, the Dutch brand has 112 locations with a total of over 2,500 placements across the country.

In a joint statement, Orpea’s subsidiary in the Netherlands said it could sell properties and rent them from new building owners “just like it has done in the past”. Regarding the “difficult” financial situation, the medical organization said, “Fortunately, the problems that Orpea experienced in many countries have not affected us in the Netherlands. The Netherlands is proud of its core It is seen in Orpea as a country, and Orpea will not withdraw from Holland.”

Current CEO Laurent Guillot, who took office on July 1, blames Orpea’s problems on its previous board, which paid little attention to healthcare and was preoccupied with real estate development. Company executives are also accused of embezzling money.

Earlier this year, French journalist Victor Castanet published a book about the practice of caregiving in an institution in Orpea. He wrote that the elderly were sometimes denied care for several days sitting in their own excrement.

Orupia was listed on the Paris Stock Exchange, but its share price plummeted after the book was published. At the beginning of the year Orpea’s shares were worth around 90 euros. Currently, its value fluctuates between about 6 and 10 euros.

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