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Care home firm Orpea, under pressure over practices, gets new financing

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Reuters UK

PARIS (Reuters) -French care home company Orpea, under pressure over its business practices and how it runs its homes, said on Monday it had approved new financing that would result in a new drawdown for it of 250 million euros ($260 million). “The agreement reached is therefore hugely beneficial to the ORPEA Group and to all its stakeholders, including in particular its 255,000 residents and patients, 71,676 employees and creditors,” added the company. Orpea said this month that an audit had found evidence of financial wrongdoing but did not support all allegations against the company. Police…

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