Magnum exits Ita Mental Health to Korian

Following this add-on, Korian expects to increase its revenues from Spain to around €130m in the next two years and reach turnover of €250m from the mental health divisions within the group in 2022.

Magnum acquired a majority stake in Ita in February 2017, investing via its second fund, Magnum Capital II, which closed on €394m in July 2017.

The GP is currently investing via Magnum Capital III, which was launched with a €400m target and €450m hard-cap in December 2019. The vehicle acquires majority stakes in Iberian companies operating in the industrial and services sectors. The fund held two interim closings this year and expects to reach a final close by July 2021, the GP told Unquote.

Company
Established in 1998 and headquartered in Barcelona, Ita manages 39 mental health facilities across Spain, with a strong presence in Catalonia, Madrid and Valencia.

Its network comprises 27 inpatient clinics with 900 beds and 12 day hospitals.

The company specialises in behavioural, personality and eating disorders, as well as addictions and neurodevelopment disorders.

Ita expects to generate revenue of around €50m in 2021.

People
Magnum Capital – Alberto Bermejo (partner).
Korian – Sophie Boissard (CEO).

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