Orpea announces that it has signed an agreement with Adoro SIA for the sale of a retirement home in Riga, Latvia, which represents all its activities in the country.

With this transaction, Orpea continues to implement its Refoundation plan announced on November 15, 2022, by starting to review its geographic footprint.

The company says it intends to 'focus on all geographies where the Group can ultimately achieve a sustainable and committed leadership position, always with the objective of satisfying the expectations of its residents, patients and their families'.

Adoro SIA is a Baltic player present in the medico-social sector in Latvia.

Completion of this transaction remains subject to customary conditions precedent and is expected to take place during the 3rd quarter of 2023.

The ORPEA Group's evolution towards a more transparent and efficient development model is well underway, in perfect coherence with the objectives announced during the presentation of the ORPEA Change! plan with you and for you, on November 15, 2022", commented Laurent Guillot, Chief Executive Officer of the Orpea Group.


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