News Article

Switzerland-based senior living and care specialist Tertianum has agreed to buy Emeis’s Swiss nursing-home arm Senevita for about CHF 250m (around €270m).

The transaction has already been cleared by the Swiss Competition Commission (COMCO) and slated to close in the first quarter of 2026, subject to customary conditions and workforce consultations. The sale advances Emeis’s accelerated disposal programme, which has now secured €2.4 billion of divestments versus a €1.5 billion end-2025 target, and will be used to reduce debt and strengthen the French group’s balance sheet.

The package changing hands comprises 40 nursing homes and senior residences totalling roughly 3,600 beds, along with a local home-care business. These sites generated about CHF 350m of revenue in 2024 , ran at over 90% occupancy and delivered an EBITDAR margin above 20% and an EBITDA margin near 6% excluding IFRS 16.

Under the structure agreed, two institutional real-estate investors will purchase the bricks-and-mortar of seven facilities and lease them back to the operator, while Tertianum will assume leases on the remaining properties. This carve-out provides capital efficiency for the buyer and frees Emeis (known formerly as Orpea) from owning non-core real estate.

The acquisition unites two long-standing Swiss providers of residential care and nursing. Tertianum, which specialises in elderly care and is backed by private-equity house Capvis will integrate Senevita to deepen its presence across German-, French- and Italian-speaking regions.

For Emeis, the transaction represents another milestone in a divestment strategy launched mid-2022 to restore financial flexibility; the company notes that proceeds “will enable the Group to continue reducing its debt and strengthen its balance-sheet structure”.

With regulatory clearance already in hand and closing expected in early 2026, investors and operators will now watch integration planning, lease-back negotiations and occupancy trends across the 40 facilities as indicators of how quickly Tertianum can translate the deal into operational scale and cost leverage.