(AOF) – The National Financial Prosecutor’s Office announced on Monday that a preliminary investigation for “insider trading” had been opened against the former CEO of Orpea, Yves Le Masne. In early February, Le Canard Enchaîné had reported that the latter had sold thousands of shares in the operator of Ehpad after being made aware of the preparation of the book “Les Fossoyeurs”. On a notice from the AMF, it appears that Yves Le Masne sold 5,456 shares last July, in three separate transactions, which allowed him to pocket more than 588,000 euros.
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Key points
– European number 1 in comprehensive dependency care with more than 116,000 beds and 1,156 establishments in 23 countries, created in 1989;
– Turnover of €3.9 billion, split between France-Benelux for 60%, Central Europe for 26%, Eastern Europe for 9%, the Iberian Peninsula and Latin America ( Brazil, Chile and Uruguay) for 5% then China;
– Value creation model based on 4 pillars: investment in people, quality of service assessed regularly, an organization adapted to international development in locations with high purchasing power, 50% ownership real estate (47% in 2020);
– Split capital (14.5% for the Canadian pension fund CPPIB and 5% for FFP of the Peugeot family), Philippe Charrier chairing the 13-member board of directors, Yves Le Masne being managing director;
– Tight balance sheet with €3.6 billion in shareholders’ equity against €6.7 billion in net debt, increased by external growth.
Challenges
– Decentralized operational organization aimed at controlling the internationalization of the group present in 23 countries, with management teams for each geographical area and harmonization of procedures and controls carried out by head office;
– Innovation strategy to anticipate the management of human frailty: Open innovation with 108 projects around health & care, catering & hospitality, construction and processes / university research with nearly 30 innovative projects / 100% of new buildings certified HQE / 5% reduction in energy consumption;
– 2023 environmental roadmap: 100% of calls for tenders including a CSR assessment / 100% of suppliers signatories to the responsible purchasing charter / 100% of new buildings certified HQE / 5% reduction in energy consumption / 1
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launch of a green loan in March;
– Growth reservoir provided by the 26,000 beds under construction and strengthened by the 6 acquisitions made in 1
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semester 2021.
Challenges
– Stock market sensitivity to public aid for dependency and health policies;
– Strengthening the security of information systems after the cyberattack of September 2021;
– At the end of September 2021, 10.8% increase in half-year revenue;
– No dividend in 2020 but share buyback program.
Boost for French pharmacy
At the end of a recent CSIS, the French authorities announced an amount of credits (7 billion euros) never reached: 1.5 billion for hospital-university research, 2 billion for investment in health via bpi france , 1.5 billion in aid for the relocation of industrial projects, and 2 billion to strengthen investment in three sectors of the future (bioproduction, digital medicine, and pandemic preparedness). In addition, the annual growth in drug expenditure reimbursed by Medicare will be 2.4%, which should generate growth of at least 0.5% in the turnover of laboratories,
Above all, the normal drug marketing procedure will be accelerated (up to 500 days saved) if the medical benefit rendered is sufficient.