2023 UNIVERSAL |
REGISTRATION |
DOCUMENT |
including the annual financial report |
Contents
PRESENTATION OF THE ORPEA | |||
1 GROUP AND ITS MARKETS | 27 | ||
1.1 | Presentation of the ORPEA Group | 28 | |
1.1 | ORPEA's key figures | 28 | |
1.2 | The ORPEA Group's core activities: | ||
a range of services covering the | |||
full spectrum of long-term care | 31 | ||
1.3 | Leveraging solid assets to regain | ||
a leading position in the sector | 35 | ||
1.4 | Rising demand underpinned by an | ||
ageing population and the increased | |||
prevalence of chronic diseases | 37 | ||
1.5 | A regulated activity with controlled fees | 39 | |
1.6 | Main provisions of the Accelerated | ||
Safeguard Plan implemented from | |||
the end of 2023 in accordance | |||
with the terms approved | |||
by the Nanterre Specialised | |||
Commercial Court on 24 July 2023 | 41 | ||
2 | RISK FACTORS | ||
AND INTERNAL CONTROL | 47 | ||
2.1 | Risk factors | 48 | |
2.2 | Internal control | 63 | |
3 | NON-FINANCIAL | ||
STATEMENT | 71 | ||
3.1 | Corporate Social Responsibility's | ||
contribution to ORPEA's transformation | 73 |
3.2 Quality of care and support for patients, residents and beneficiaries centred
on their life journey | 84 |
3.3 People at the centre of the Group's transformation: prioritising employee
health, safety and well-being | 104 |
3.4 A responsible corporate citizen
committed to its communities | 126 |
3.5 Better control over the environmental
impact of ORPEA's activities | 143 | |
3.6 | Duty of Care Plan | 167 |
3.7 | GRI, SASB cross-reference tables | 174 |
3.8 | Methodological note | 177 |
3.9 Report of one of the Statutory Auditors appointed as an independent third party on the consolidated
non-financial statement | 184 |
Appendix: Cross-reference table | |
for the Non-Financial Statement | 187 |
CORPORATE | |
4 GOVERNANCE | 189 |
4.1 Membership and operating procedures
of the Board of Directors | 192 | ||
4.2 | Executive Management | 215 | |
4.3 | Remuneration and benefits awarded | ||
to corporate officers | 217 | ||
4.4 | Specific terms and conditions | ||
for shareholders to participate | |||
at General Meetings | 240 | ||
4.5 | Agreements entered into between | ||
a corporate officer and a subsidiary | 240 | ||
4.6 | Factors liable to have an impact | ||
in the event of a public offer | 240 | ||
4.7 | Appendices | 241 | |
4.8 | Statutory Auditors' report | ||
on related-party agreements | 267 | ||
5 | COMMENTARY | ||
ON 2023 | 271 | ||
5.1 | Significant events of the year | 272 | |
5.2 | Review of the consolidated financial | ||
statements for the year ended | |||
31 December 2023 | 276 | ||
5.3 | Review of the individual financial | ||
statements for the year ended | |||
31 December 2023 | 282 | ||
5.4 | Other financial and legal information | 285 | |
5.5 | Forecast and events subsequent | ||
to 1 January 2024 | 286 | ||
5.6 | Table of five-year financial highlights | 288 | |
6 | 2023 FINANCIAL | ||
STATEMENTS | 291 |
6.1 | Consolidated financial statements | |
for the year ended 31 December 2023 | 292 | |
6.2 | Statutory Auditors' report on the | |
consolidated financial statements | 370 | |
6.3 | Statutory financial statements for | |
the year ended 31 December 2023 | 376 | |
6.4 | Statutory Auditors' report on | |
the statutory financial statements | 411 |
7 | SHARE CAPITAL AND | ||
OWNERSHIP STRUCTURE | 419 | ||
7.1 | Share capital | 420 | |
7.2 | Communication with investors | 431 | |
7.3 | Share data | 432 | |
8 | ADDITIONAL | ||
INFORMATION | 435 | ||
8.1 | Legal information about the Company | 436 |
8.2 Key provisions of the Company's
Articles of Association | 436 |
8.3 Person responsible for the Universal
Registration Document | 438 | |
8.4 | Statutory Auditors | 438 |
8.5 | Publicly available documents | 439 |
8.6 | Cross-reference tables | 439 |
2023 UNIVERSAL REGISTRATION DOCUMENT
including the annual financial report
"The Group's mission is to provide healthcare and assistance
to highly frail
and vulnerable
people."
The Universal Registration Document was filed on 6 May 2024 with the AMF as the competent authority under Regulation (EU) 2017/1129, without prior approval in accordance with Article 9 of said Regulation. The Universal Registration Document may be used in support of an offer of securities to the public or the admission to trading on a regulated market of financial securities if accompanied by a prospectus and, where applicable, a summary and any modifications made to the Universal Registration Document. All of the documentation is then approved by the AMF in accordance with Regulation (EU) 2017/1129.
Pursuant to Article 19 of Regulation (EU) 2017/1129, this Universal Registration Document incorporates by reference the 2021 Universal Registration Document, filed on 16 June 2022, under number D. 22-0517(https://www.emeis-group.com/wp-content/uploads/2011/12/ORPEA_URD-2021_EN_b7d0f.pdf), the 2022 Universal Registration Document, filed on 7 June 2023, under number D. 23-0461(https://www.emeis-group.com/wp-content/uploads/2023/07/ ORPEA_DEU_2022_UK_.pdf), the first amendment to the 2022 Universal Registration Document, filed on 10 November 2023 under number D. 23-0461-A01(www.emeis-group.com/wp-content/uploads/2023/11/ORPEA_Amendement_URD.pdf) (in French only), the second amendment, filed on 5 December 2023 under number D. 23-0461-A02(www.emeis-group.com/wp-content/uploads/2023/12/ORPEA_Deuxieme_Amendement_DEU_2022.pdf) (in French only) and the third amendment, filed on 17 January 2024 under number D. 23-0461-A03(www.emeis-group.com/wp-content/uploads/2024/01/ORPEA-Troisieme-Amendement-DEU-2022.pdf) (in French only). The aforementioned Universal Registration Documents are available on the AMF and ORPEA websites (www.emeis-group.com, under ORPEA S.A., Shareholders & Investors, Documentation), or on request from the Company's registered office (ORPEA S.A. - Investor Relations - 12, rue Jean Jaurès - CS 10032 - 92813 Puteaux Cedex, France).
This Universal Registration Document including the annual financial report is a reproduction of the official version which has been prepared in European Single Electronic Format ("ESEF") and is available on the AMF and ORPEA websites.
This is a translation into English of the Universal Registration Document of the Company issued in French and it is available on the website of the Issuer.
ORPEA - 2023 UNIVERSAL REGISTRATION DOCUMENT | 1 |
PROFILE
With nearly
78,000 employees at work every day,
we are committed to the mission
of supporting all highly frail
and vulnerable people.
We design health, care and life
pathways for the patients, residents and beneficiaries we welcome each year to our nearly 1,000 facilities worldwide. Our mission also extends to the loved ones and the social relationships of the people we care for.
2023 KEY FIGURES
93,470
beds
1,031
facilities in strategic city-centre locations in 21 countries
MORE THAN 30 YEARS
of experience in care and support services
NEARLY 283,000
patients and residents welcomed, cared for and supported last year
NEARLY 78,000
employees, 56% of whom are care staff
€5,198 MILLION
in revenue
- ORPEA - 2023 UNIVERSAL REGISTRATION DOCUMENT
Our story began in 1989 when a neuropsychiatrist opened a first nursing home in Saujon, in France's Charente-Maritime region. Today, the Group operates mainly in Europe, and offers comprehensive care through hospitals, nursing
homes, assisted-living facilities and home care solutions with a network of over 1,000 facilities and some 78,000 employees. After a serious crisis of confidence, in 2022, the Group launched its
With you and for you, changing ORPEA Refoundation Plan with the goal of radically transforming the organisation for the benefit of patients, residents, their families, and employees too.
France | Italy |
Belgium | Austria |
Netherlands | Poland |
Ireland | Czech |
United | Republic |
Kingdom | Slovenia |
Luxembourg | Croatia |
Germany | Spain |
Switzerland | Portugal |
NETWORK
OUTSIDE EUROPE
Mexico | United Arab | |
China | ||
Emirates |
Brazil
Uruguay
ORPEA - 2023 UNIVERSAL REGISTRATION DOCUMENT | 3 |
OUR CORE ACTIVITIES
OUR EXPERTISE
PLAYING AN ESSENTIAL ROLE IN THE LIVES OF THE MOST VULNERABLE PEOPLE
Providing care and supporting the life plans of our residents and patients is our mission, at the heart of which lies our medical expertise. Enhanced by scientific research and technical progress, our teams and our stakeholders build on this expertise day after day.
The Group's dedicated team
of nearly 78,000 professionals work in four main areas of expertise:
- Temporary or long-term dependency and severe dependency;
- Neurodegenerative diseases, including Alzheimer's and Parkinson's;
- Post-acutecare and rehabilitation;
- Mental health including psychotic and thymic illnesses, sleep disorders and addictions.
Our multidisciplinary teams cover a wide range of professions, providing care at our facilities or our patients' homes.
20
job categories in our four main areas of expertise
Nearly 78,000 committed
professionals
- ORPEA - 2023 UNIVERSAL REGISTRATION DOCUMENT
OUR MENTAL
HEALTH HOSPITALS
provide support and care by combining a wide range of approaches to help patients regain mental balance and a healthy lifestyle.
Mood disorders - Anxiety disorders
- Addictions - Sleep and eating disorders - Post-traumatic stress disorders - Burn-out - Borderline personality disorders - Therapeutic groups - Specialised units for teenagers and young adults - Specialised mother-child psychiatric rehabilitation units - Geriatric psychiatry units
- Perinatal psychiatry - Full-time hospitalisation - Day and night hospitals
- Pre- and post-hospitalisationfollow-up.
OUR POST-ACUTE
AND REHABILITATION
HOSPITALS
welcome patients following surgery or as part of an acute episode of a chronic illness.
Multi-purpose, geriatric and oncology rehabilitation clinics - Functional rehabilitation - Cardiovascular rehabilitation - Respiratory rehabilitation
- Rehabilitation clinics specialising in the treatment of musculoskeletal, nervous system and digestive system disorders, as well as patients in a persistent vegetative state - Highly specialised care units - Full-time hospitalisation
- Day hospital - Prevention and therapeutic education programmes.
OUR NURSING
HOMES
are homes for elderly people who need individual attention, care or personalised help with everyday tasks.
Long stay - Short stay - Day care - Alzheimer's and related conditions unit for long stays or day care.
OUR ASSISTED-LIVING FACILITIES
offer a secure, high-quality living environment for those who want to enjoy life at their own pace and with complete independence.
Flat rental -
Discovery stays.
OUR HOME CARE SERVICES
are adapted to the degree of autonomy, needs and desires of our beneficiaries, helping them remain in their familiar surroundings, close to their loved ones.
Personal services (help with washing, eating, mobility and getting around, leisure activities, etc.) - Additional services (cleaning, ironing, grocery shopping, etc.).
ORPEA - 2023 UNIVERSAL REGISTRATION DOCUMENT | 5 |
HIGHLIGHTS
OUR VALUES AT THE HEART OF OUR ACTIONS
THIRST TO LEARN
#ethics
A commitment
to humanity in Spain
In Spain, the Group has signed a partnership agreement with the Hippocratic Movement, an international non-profit organisation whose mission is to promote empathy
and humanity and to train healthcare professionals in #ethics. On the day of the signing, a bust of Hippocrates, the father of medicine, was unveiled at the Aravaca facility in Madrid.
#training
High-level training in China
ORPEA has launched a #training programme in partnership
with the Peking University Hospital, which offers high-level training to the country's geriatricians, nurses and caregivers interested in learning about European practices and standards. Nearly 1,000 professionals were trained over eight sessions. The programme is constantly evolving, and recently included a module on non-medicinal therapies.
#innovation
Rewarding medical excellence
Each year, almost 100 projects from all our facilities around the world compete for our Excellence Awards. Some 14 countries competed in five categories: healthcare innovation, research, clinical ethics, the 1,000 Smiles initiative and the new employee experience category. An e-learning project presented by SeneCura in Austria and the "reverse CVs"
by Polyclinique de La Lèze in France won awards in the new category. At a time when the Group is expanding its horizons, #innovation
is essential!
A COMMITMENT TO HUMANITY
#InterculturalDialogue
Diversity in Poland
At the first My Company Diversity Awards in 2023 in Poland, the Antonina facility won in the #InterculturalDialogue category. Located in Piaseczno, the nursing home won the award for its "integration of staff from diverse cultures and nationalities, thereby improving the position of cultural, ethnic and religious minorities
in society".
#age Ageless beauty in Italy
For International Women's Day on 8 March 2023, five of our facilities in northern Italy honoured the women in its facilities. Some of the women were the subject of a photo exhibition open to residents, their families and the general public. This initiative was a tribute to the ageless beauty of all the women in our facilities.
#diversity in Ireland
Ireland has attained Bronze accreditation from the Irish Centre for Diversity for its ongoing commitment to diversity and inclusion across its 23 facilities and home care services. The Bronze Investors in Diversity score shows that we have laid a solid foundation for diversity and inclusion throughout our activities.
Investors in Diversity is Ireland's first diversity and inclusion accreditation framework.
- ORPEA - 2023 UNIVERSAL REGISTRATION DOCUMENT
TASTE FOR LIFE
#biodiversity
Changing how we look at life
In 2023, the Group published its #biodiversity charter.
Through this charter, it has chosen to organise its medical and care activities, real estate projects and support functions with a constant eye on the environment, living organisms and biodiversity.
The Group's commitments, which are the result of a collaborative approach, are set out in its internal "BiophilGood" label.
SPIRIT OF MUTUAL AID
#catering
Swiss cuisine in the spotlight
In 2023, Senevita earned the Swiss SVG Trophy for winning a team competition focusing on the particular challenges of #catering in hospitals and healthcare facilities, both in the public and private sectors in Switzerland. Well done to the chefs!
#alzheimers
Reconnecting with the community through exercise in Brazil
On 24 September 2023, all caregivers and residents at the Cora Senior facility in São Paulo were invited to walk together down Paulista Avenue to raise awareness about preventing #alzheimers disease. It was an opportunity to remind people of the benefits of exercise in preventing neurodegenerative diseases and reconnect with the local community.
#housing
Protecting vulnerable employees in France
Today in France, 12 million people are vulnerable because of their #housing conditions.
The Group has set up a guaranteed accommodation scheme to help employees who are temporarily faced with severe housing difficulties. This emergency scheme will be activated on the basis of eligibility criteria to guarantee immediate shelter and offer support towards a permanent accommodation solution.
#digitise
Supporting elderly people with tech in the Czech Republic
The SeneCura subsidiary has forged
a partnership with ICT4elders, a project aimed at promoting new information and communication technologies among senior citizens. Through mentoring sessions, patients and residents can familiarise themselves with new tools, which they can use in particular to communicate with their loved ones. After a successful trial in Prague, the Group is planning to extend this partnership across Europe.
#mentalillnesses
Art and mental health in Germany
For World Mental Health Day on 10 October,
two of Germany's psychiatric clinics opened their doors to the general public to raise awareness, dispel the prejudices often associated with mental illness and present the care provided by the facilities. In addition to touring the facilities, visitors enjoyed a concert put on by patients and an exhibition of photos and works of therapeutic art around the theme of the relationship with the body. All were warmly welcomed!
ORPEA - 2023 UNIVERSAL REGISTRATION DOCUMENT | 7 |
HIGHLIGHTS
OUR MISSION OF CARE
PUTTING CARE
BACK AT THE HEART
OF WHAT WE DO
The year 2023 was marked by a refocus
on our core mission of care and support, thanks to the commitment of our professionals.
OUR MOTIVATION.
10%
increase in the direct care ratio in nursing homes in France.
Three bodies have been created to lay the foundations for a medical policy:
• a Medical and Healthcare Commission chaired by the Group Executive Vice President, Medical, Professor Pierre Krolak-Salmon;
• an International and Interdisciplinary Scientific Council chaired by Professor Didier Pittet,
to coordinate expert consensus, literature reviews, academic partnerships and pilot studies;
• an Ethics Advisory Board headed by Professor Emmanuel Hirsch, to draw up ethical guidelines. We led an in-depth reorganisa- tion of the medical, caregiver and quality divisions to significantly boost the quality of care, thanks to a formalised multidisciplinary approach, particularly to prevent the risk of infection, undernutrition and falls. To quickly test out our new organisational structure, around 30 pilot projects were
launched to support personalised care pathways and stays. These pilot initiatives focus on key areas such as prevention of long-term care requirements and serious complications from diseases by prioritising social ties, nutrition and meals, as well as physical activity.
"WE HAVE
TRANSFORMED OUR
MECHANISMS
FOR DIALOGUE."
To better assist the daily lives of our patients and residents, we have increased the direct care ratio by 10% in our nursing homes in France, with enhanced support from a three-pronged managerial team, namely the Facility Manager, Coordinating Doctor and Health Executive. We have also taken key measures, such as recruiting a local buyer to offer more organic and
seasonal produce and expanding training programmes for chefs.
To become a more active listener for our patients, residents and their loved ones, we transformed our mechanisms for dialogue. In 2023, 84% of Group countries had already implemented tools to improve
outreach with fami- lies. In France, we developed a listening platform to meet the requests of our patients' and resi- dents' relatives, with a mediation system headed by Claude Evin. Putting care
back at the heart of what we do was the key pillar of our transformation plan. Thanks to the commitment of all our teams, the year saw many advances made to better serve our caregivers, residents, patients and beneficiaries. •
- ORPEA - 2023 UNIVERSAL REGISTRATION DOCUMENT
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Orpéa SA published this content on 20 June 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 June 2024 10:28:07 UTC.