ORPEA: PRESS RELEASE FOLLOWING THE RECEIPT OF A FORMAL NOTICE FROM THE CAISSE NATIONALE DE SOLIDARITÉ POUR L’AUTONOMIE

Rhea-AI Summary

ORPEA has received a notice from the French National Solidarity Fund for Autonomy (CNSA) demanding the return of €55.8 million in funding, deemed unduly received. This notification is based on the report from the joint IGAS-IGF mission dated July 29, 2022. ORPEA intends to reimburse the incorrectly recorded amounts and will provide its responses to the CNSA regarding any assessment differences within the specified timeframe. The company operates in 22 countries, specializing in elderly care, post-acute rehabilitation, and mental health, caring for over 255,000 patients annually.

Positive

• ORPEA's prompt response to reimburse the €55.8 million indicates proactive management of regulatory compliance.
• The company operates in 22 countries, demonstrating a broad international presence.

Negative

• The demand to return €55.8 million reflects financial mismanagement or oversight, potentially impacting shareholder confidence.
• The ongoing scrutiny from CNSA may lead to reputational damage and further financial liabilities.

PUTEAUX, France--(BUSINESS WIRE)-- Regulatory News:

The Company indicates that it has received a formal notice from the Caisse nationale de solidarité pour l'autonomie (French National Solidarity Fund for Autonomy - CNSA) to return unduly received funding, dated July 29, 2022, following the report of the joint IGAS-IGF mission, in the amount of €55.8 million.

ORPEA will reimburse the amounts that were inappropriately recorded.

The Company's position to date is disclosed in note 3.11 to the 2021 consolidated financial statements, available in the Company's 2021 Universal Registration Document.

For the amounts that are subject to differences of assessment between ORPEA and the general inspections, ORPEA will provide its answers to the CNSA within the given timeframe.

ORPEA will reimburse the amounts that were inappropriately recorded.

About ORPEA

ORPEA (Paris:ORP) is a leading global player, expert in the care of all types of frailty. The Group operates in 22 countries and covers three core businesses: care for the elderly (nursing homes, assisted living, home care), post-acute and rehabilitation care and mental health care (specialized clinics). It has more than 71,000 employees and welcomes more than 255,000 patients and residents each year.

https://www.orpea-group.com/

ORPEA is listed on Euronext Paris (ISIN: FR0000184798) and is a member of the SBF 120, STOXX 600 Europe, MSCI Small Cap Europe and CAC Mid 60 indices.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220802006028/en/

Investor Relations

ORPEA

Benoit Lesieur

Investor Relations Director

b.lesieur@orpea.net



Investor Relations

NewCap

Dusan Oresansky

Tel.: +33 (0)1 44 71 94 94

ORPEA@newcap.eu



Media Relations

Image 7

Laurence Heilbronn

Tel.: +33 (0)6 89 87 61 37

lheilbronn@image7.fr

Source: ORPEA

FAQ

What is the amount ORPEA has to reimburse according to the CNSA?

ORPEA has to reimburse €55.8 million as per the notice from the CNSA.

When was the CNSA notice to ORPEA issued?

The notice from the CNSA was issued on July 29, 2022.

What was the reason for the reimbursement demand from CNSA to ORPEA?

The reimbursement demand was based on findings from a report by the joint IGAS-IGF mission.

How many countries does ORPEA operate in?

ORPEA operates in 22 countries.

What services does ORPEA provide?

ORPEA specializes in elderly care, post-acute rehabilitation, and mental health services.