Waterland has signed an agreement to divest its interest in Senior Living Group to MEDICA

Antwerp, 29 July 2013 - Waterland has entered into an agreement for the divestment of its portfolio company Senior Living Group to the leading French operator MEDICA, which operates 17.100 beds in both long-term senior care and post-acute and psychiatric care in France and Italy.

Senior Living Group, based in Kontich (Belgium), was founded in 2004 by investment firm Waterland Private Equity to execute a buy-and-build strategy in the fragmented Belgian market for residential elderly care.

Since then, Senior Living Group has realized a substantial growth through a combination of acquisitions of existing nursing homes, capacity extensions and greenfield developments. Today Senior Living Group together with its 3.600 staff members provides high quality care and housing to 5.500 residents in 47 nursing and care homes throughout Belgium. It is currently developing a portfolio of 1.250 licenses to further expand its capacity in the near future. With an estimated market share of c. 4%, Senior Living Group is today the market leader in the private part of the nursing homes market.

Frank Vlayen, managing principal of Waterland in Belgium comments: “After having realized an intense buy-and-build strategy over the last 9 years, leading to a growth from 2 nursing homes at the start to 47 nursing homes today, we are pleased that Senior Living Group can continue its development under the wings of MEDICA with continuity for all stakeholders concerned. We also wish to thank the management team for the outstanding job they have done over the past 8 years in developing SLG into a leading operator in the Belgian nursing home market.”

Bart Bots, CEO of Senior Living Group, says: “We are happy to become part of MEDICA, a leading provider of long- and short-term dependency care in France and Italy, who will further facilitate our ambition to create a reference operator focused on high quality care and a good environment for residents, their families and our staff members.”

Closing of the transaction is foreseen in the course of the third quarter of 2013.

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