Acquisition of third largest mental health platform in Spain
Korian acquires ITA Mental Health and accelerates its development of mental health activities across Europe
Korian has signed an agreement to acquire ITA Mental Health, the third largest player in mental health in Spain from Magnum Capital. Pending usual regulatory authorisations the acquisition is expected to close in a few months.
Following the acquisition of Inicea, in December 2020, Korian pursues its development in mental health by becoming the third largest player in both France and Spain, with a clear focus on innovative, specialised care solutions in an inpatient and outpatient environment.
Ita Mental Health is a group specialised in mental health with 39 facilities across Spain. It is the third largest player in Spain by number of beds or second largest by revenue, with a strong presence particularly in Catalonia, Madrid and Valencia.
The network includes 27 inpatient clinics and 12 day hospitals (including 2 antennas) with reputed specialisations in behavioural, personality and eating disorders, addictions and neurodevelopment and general psychiatry.
The company has grown rapidly over the last five years, to match the growing needs of the Spanish population for mental health care. Indeed it is estimated that over 3 million people in Spain require mental health care and that this figure is set to continue to rise significantly in the next few years, with a rising demand for private and outpatient care to meet specific requirements.
The Group has an excellent reputation for medical care with a proprietary model ensuring the treatment of the patient within their environment and entourage with capabilities to cover all phases of the pathology. Its reputation is reflected in its NPS score of 70%, one of the highest in the sector.
Two thirds of the Ita network has an ISO quality certification.
Alberto Bermejo, Partner at Magnum Capital stated, “We are very proud to have contributed to the expansion of ITA to create the company of choice in the treatment of mental health in Spain. We are convinced that the integration with Korian will create new growth opportunities and reinforce the leading position of ITA as the excellence in the quality of mental care.”
“We are very pleased to welcome ITA Mental Health into the Korian Group,” commented Sophie Boissard, CEO of Korian. “This acquisition follows our strategy to enlarge our offering from elderly care to continuous care for different conditions on a European wide basis. The management and teams of ITA Mental Health has developed a renowned expertise is behavioural, eating and mood disorders. We look forward to continue to develop the capacities of the platform, in line with the growing needs in Spain. We will also foster close relations with the Inicea teams and build out strong core competencies across the two platform and we will continue to expand the capacity of Korian in mental health over the years to come.”