Healthcare Activos announces a geriatric project in Spain, enters Italy and invests in the mental health sector in France

The investment group Healthcare Activos (HCA) has announced its latest operations closed since July, both within and outside Spain, to which it has allocated more than €150m. On one hand, as previously informed to Alimarket, it is reinvesting in the Spanish market with a new greenfield project, which will ultimately be located in the city of Murcia and managed by the Sanitas Mayores group, with whom the investor has already signed an agreement. The nursing home, with construction expected to begin in the middle of next year, will have 132 beds. The Murcia project will be followed by others that HCA is currently negotiating in Madrid, Catalonia, and Andalusia, thereby renewing its interest in growing within Spain.

The Murcia project adds to the portfolio of eight nursing homes and other socio-sanitary assets that the investment group has in its domestic pipeline. Following the opening this week of the residence developed for Solimar (Vivalto Vie) in Madrid, the group has completed construction on its Vitoria project, which will be managed by the emeis group. For the latter, work is also progressing on a facility set to open in the early months of 2026 in Ferrol (A Coruña). Further along is the construction of the new CIAN (neurorehabilitation center) that HCA is building for Grupo 5 (Clariane) in Madrid, which is expected to open in December. Around the same date, a nearly completed residence in Sabadell (Barcelona) is scheduled for delivery to Vivalto Vie. Finally, HCA is also erecting a residence for Sanitas Mayores in Valencia, with an expected opening at the end of 2025; the completion of the Huétor Tajar (Granada) facility for Amavir is slated for the same period. Looking toward 2026, the group aims to deliver two projects in Granollers and Gavà to DomusVi.

Commitment to Mental Health

Within the investments made over the last three months, Healthcare Activos is investing for the first time in the field of mental health, with the acquisition of three clinics offering outpatient and inpatient care in France: Epinoy (Cambrai), Oyats (Calais), and Boucles de la Seine. These facilities provide 96 beds and 20 day-stay places; 92 residential places and 20 day-stay places; and 102 beds, respectively. In total, the group adds 290 inpatient places for mental health treatment and 40 day-stay places.

HCA Enters Italy

Also recent is Healthcare Activos’ entry into Italy, where the group has acquired a care complex that includes a 90-bed nursing home for dependents and a specialized center for eating disorders (ED), with ten beds and 12 day-stay places. The Italian complex also includes an outpatient clinic occupying three floors of the facilities. This acquisition follows the investment group’s intention to bet on the country, an interest it has expressed over the last few years.

Italy thus joins the group of European countries where Healthcare Activos has a presence since its arrival in Portugal in 2020. In the neighboring country, it already has three hospitals and a clinic, to which it recently added its first nursing home, located in Leiria (126 beds). Additionally, it has five others in France—the latest located in Champ de Mars, also acquired last summer from CNP and managed by Clariane, as published by Alimarket. Its portfolio includes a geriatric center in Germany, three in Ireland, and eleven more in Belgium, incorporated in previous years.

Currently, following the launch of the Vivalto Vie residence in the Carabanchel district of Madrid, Healthcare Activos has 44 operational assets in Spain (35 nursing homes, two general hospitals, two socio-sanitary centers, and five clinics), with a total of 5,787 beds in operation. Meanwhile, abroad it already has 29 centers (22 nursing homes, three general hospitals, one clinic, and three mental health centers) spread across Belgium (11), France (8), Germany (1), Ireland (3), Portugal (5), and now Italy (1).

Consequently, the Spanish-founded investment group now has 82 assets, 53 of which are in Spain (44 operational and nine under construction) and the other 29 in the rest of Europe, totaling 500,393 sq m of built area. The current portfolio, managed by the group’s two existing platforms (REITs Healthcare Activos Yield 1 and 2), is valued at €1,294m, although the budget for the next three years reaches €1,700m.