Emeis announced its early exit from the accelerated safeguard plan on February 20, 2026, following approval from the Nanterre Court of Economic Affairs. This exit comes after three years of restructuring the health services and support group.
Emeis Group, a French operator of psychiatric clinics, medical care and rehabilitation clinics, nursing homes, home care services, and service residences, secured its exit from the accelerated safeguard plan on February 20, 2026. This recovery procedure had been initiated previously to address financial difficulties. The group employs approximately 83,500 experts and professionals and welcomes around 280,000 residents, patients, and beneficiaries annually in about twenty countries.
Key Factors Enabling the Exit
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The exit was made possible by three main factors: the execution of a major divestment plan with 2.45 billion euros in divestments completed or secured since mid-2022; the strengthening of the balance sheet structure since December 18, 2025, with the raising of 3.15 billion euros in new financing allowing the early refinancing of A/B/C/D bank debt; and the improvement of operational performance since mid-2024 characterized by increased occupancy rates, higher operational margins, and now positive free cash flow. The group anticipates an average constant-scope EBITDAR growth of +12% to +16% between 2024 and 2028.
SectorSanté · Etablissements de santé / EHPAD›Etablissements de santé
Context
Period
Period: 9M 2025
Guidance from the release
Croissance organique soutenue (+6,4% à fin septembre 2025, +7,0% au T3), amélioration notable des taux d'occupation, objectifs de cessions dépassés (2,1 Md€) et confirmation des perspectives 2025 et de la trajectoire 2024-2028.
Risks mentioned
Risques et incertitudes liés aux conditions de marché futures pouvant affecter les résultats prévisionnels
Risque de non-réalisation ou de délai des cessions actuellement sécurisées ou en négociation
Impact transitoire des ouvertures récentes sur les taux d'occupation dans certaines zones
Opportunities identified
Croissance démographique des plus de 75 ans (+30% d'ici 10 ans) créant une demande structurelle accrue
Déficit structurel d'offre (déficit attendu de lits sur principaux marchés) offrant une forte visibilité commerciale
Possibilités de capture d'effets prix favorables et d'amélioration de marges opérationnelles
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