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Cureus and Convivo confirm growth strategy - contract agreed for 11 new senior residences

·6-min read

DGAP-News: Cureus GmbH / Key word(s): Real Estate/Contract
11.11.2021 / 12:01
The issuer is solely responsible for the content of this announcement.

Press Release

Cureus and Convivo confirm growth strategy - contract agreed for 11 new senior residences

- More than 1,250 new care places

- Construction in accordance with Cureus's proprietary system approach and 'Effizienzhaus-40' energy-efficiency standard

- Care specialist Convivo We confirmed as future operator

- Locations spread across several federal states in Germany

- Completions planned by 2025

- Agreement envisions long-term, 25-year operator contracts

Hamburg/Bremen, 11 November 2021. Cureus, an experienced, integrated inpatient care property company that specialises in developing its own care home portfolio, has announced a pipeline agreement with the healthcare specialist Convivo We. The agreement envisions the development of 11 new senior residences based on Cureus's proprietary system approach by the end of 2025.

After completion, all 11 properties will be integrated into the steadily growing Cureus portfolio. Cureus and Convivo We have concluded an agreement in principle for 25-year operating contracts for the 11 new senior residences, each of which is being designed and built to Cureus's proprietary standard.

The properties will be build in the states of Brandenburg, Mecklenburg-Western Pomerania, Lower Saxony, Schleswig-Holstein, Saxony-Anhalt, Saxony and Thuringia. In total, the residences will create more than 1,250 care places, including assisted-living apartments and facilities for outpatient care.

"We are committed to meeting the challenges of demographic change and providing the Silver Society with the security it wants and needs. This portfolio of eleven high-quality senior residences will also allow us to implement our growth strategy and expand our focus to include the region in and around Berlin, together with the other federal states in eastern Germany", says Professor Marc Baenkler, CEO of Convivo We. "We already have a very successful, long-standing relationship with the Cureus team and an extensive track record of planning, building and commissioning best-in-class care home facilities according to the Cureus standard in optimal locations. In this respect, we are looking forward to the opportunity these new residences give us to continue our fruitful collaboration with Cureus".

"Based on our established partnership with Convivo We, we know we have a strong partner and operator for the 11 new senior residences and look forward to working together closely for years to come. The investment volume for these 11 care homes illustrates the high demand for modern care facilities in Germany and we are convinced that this can best be met with a systematic approach to planning and construction", says Christian Möhrke, COO of Cureus. "This agreement with Convivo We will contribute to our goal of increasing our completion volume to at least 20 properties per year over the next few years. This will give us further scale, as all properties are to remain in our portfolio after completion in line with our strategy, which we purposefully realigned in the summer".

Thanks to its proprietary system approach, Cureus is able to build more properties and to complete them faster than other care home developers. The company's standardised approach ensures that planning and construction processes are always the same and that each facility is build on the basis of uniform structural standards. Each complex's architecture and facade incorporate individual touches that integrate seamlessly into the surrounding environment. Care homes built to the Cureus standard are optimised in all respects, allowing subsequent operators, for example, to benefit from maximum efficiency in care operations. The company's properties are also designed to cater to the needs of residents and nursing staff. For instance, optimisations to the building structure help to create a modern and attractive working environment, thereby making caregivers' daily routines easier than ever before. Residents also benefit from living in warm, welcoming and secure care homes that feature modern, barrier-free floor plans and well-conceived layouts. The Cureus system approach also prioritises sustainability and every new property is designed in accordance with the 'Effizienhaus-40-Standard' (former KfW 40 energy-efficiency standard).

The Cureus standard for high-quality care homes

The Cureus standard for system care homes is based on exacting and uniform quality standards and is oriented to the needs of all stakeholders, including care home operators and residents. Care homes built to the Cureus standard are optimised in all respects. This concerns, for example, the size and arrangement of rooms to optimize space and walkways. Cureus care homes are also designed and equipped for maximum utility: interior corridors benefit from as much daylight as possible, every room has floor-to-ceiling windows that provide attractive views of the surrounding area, and the modern bathrooms and window fronts follow the same standardised system approach. Each complex's architecture and facade incorporate individual touches and are constructed to the highest quality standards, integrating seamlessly into their surroundings. Th Cureus system approach also prioritises sustainability, both in terms of a care home's long-term economic viability and its impact on the environment. All Cureus care homes are, for example, constructed in accordance with the 'Effizienhaus-40-Standard' (former KfW 40 energy-efficiency standard), while the bulk procurement of floor coverings or elevator systems, for example, ensures cost synergies and long-term maintenance contracts covering several properties also reduce costs for care home operators. The constant review and optimisation of the Cureus system care home standard guarantees the construction of care homes that truly meet demand.

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About Cureus GmbH

Cureus GmbH is based in Hamburg and is an integrated property company in the German care home sector with more than 15 years of experience and a team of c. 130 employees developing properties for the portfolio managed by Cureus.

With the "system care home" - recently named as "Outstanding Innovation" by the industry association ZIA - Cureus has developed an innovative new standard for full inpatient care and assisted living facilities, which can be implemented as a scalable, location-agnostic solution. Aligned to both current legislative requirements and the needs of operators, residents and local authorities, the senior residences and care homes developed by Cureus GmbH establish new, uniform standards and represent a highly efficient product that combines greater cost effectiveness in care with improved quality of living and service.

The company's care home portfolio consists as at September 2021 of 40 leased properties with 3,901 care places and 237 assisted living units. In addition, Cureus currently has 35 projects under construction and 62 secured projects scheduled for completion by 2025, which will add an additional c. 7,060 care places and 1,677 assisted living units to the portfolio.

About Convivo

Convivo has its origins and headquarters in Bremen and has been active in the care market for over 25 years. To date, the group unites more than 100 care facilities, residential communities, outpatient care services, facilities for service living and alternative forms of living for seniors in the Convivo Parks.


Media contacts:

Cureus GmbH
Christoph Wilhelm
Corporate Communications
+49 171 56 86 575

Convivo Holding GmbH
Daniel Koch
Corporate Development
+49 421 696 355-0

11.11.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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