Elderly care groups Medica, Korian planning merger

PARIS Mon Nov 18, 2013 1:13am EST

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PARIS Nov 18 (Reuters) - Korian and Medica said on Monday they signed a memorandum of understanding for a potential merger of equals to create the European leader of elderly care sector with combined revenue of 2.2 billion euros.

The new group would operate in France, Germany, Italy and Belgium,and target revenue of 3 billion euros by 2017, the statement said.

(Reporting by Dominique Vidalon)

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