French care home group Orpea raises revenue target

PARIS, April 28 Mon Apr 28, 2014 12:03pm EDT

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PARIS, April 28 (Reuters) - French care home operator Orpea said it raised its full-year revenue target for the second time this year to 1.93 billion euros ($2.67 billion) from 1.83 billion, representing growth of more than 20 percent versus last year.

Orpea also said it was buying German retirement home operator Silver Care Group, which is expected to generate revenue of about 200 million euros this year.

The acquisition will boost earnings as of this year, with the impact expected to increase further next year, Orpea said in a statement on Monday. ($1 = 0.7227 Euros) (Reporting by James Regan; Editing by Andrew Callus)

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