MRC acquired a majority stake in Colisée in 2020. At the time, MRC was attracted by the Company’s strong focus on quality of care and the opportunity to grow the business while upholding its best-in-class standards.
During MRC’s ownership, Colisée expanded from 270 to almost 400 facilities. MRC supported significant investments in staff training, facility maintenance, digital systems, and other initiatives to improve the quality of care and services. The Company also accelerated its sustainability efforts, becoming the first nursing home operator in France to adopt the status of entreprise à mission and introducing rigorous quality evaluation and monitoring frameworks, resulting in validated near-term Science Based Targets.
Despite revenue growth since MRC’s acquisition, Colisée has faced margin deterioration since 2022, driven by several market-related headwinds and operational challenges. In response, MRC worked closely with Colisée’s management to implement a performance improvement plan, followed by the initiation of a recapitalization plan aimed at achieving a sustainable capital structure.
Throughout, MRC’s priority has been to partner with the Company to ensure a solid foundation and to safeguard the continuity of operations and quality of care for residents. While MRC had put forward a proposal that aimed to deliver stability and sustainability across the capital structure with significant new equity, Colisée’s lenders have decided to impose their own plan. The recapitalization plan announced today will result in MRC exiting its position in Colisée.
Arnaud Marion, CEO of Colisée, said:
“Colisée sincerely thanks MRC for its role as a responsible and highly committed lead shareholder throughout its ownership in Colisée and during the recapitalization process of the Company. Today, Colisée is well-positioned to achieve strong and sustainable performance over the coming years while ensuring we continue to provide market-leading service to our residents.”
The legal and technical implementation of the contemplated recapitalization plan is expected to take several months.
