Aedifica and Cofinimmo agree to merge, creating Europe’s largest healthcare real estate group

Belgian healthcare real estate firms Aedifica and Cofinimmo have agreed to merge, forming the largest healthcare property company in Europe. The combined portfolio will be worth €12.1 billion, making the group the fourth-largest globally.

Under the agreement, Aedifica will offer 1.185 of its shares for each Cofinimmo share. This final exchange ratio is a compromise between Aedifica’s initial offer of 1.16 shares and Cofinimmo’s counterproposal of 1.21.

“This agreement marks a major step in our ambition to become Europe’s leading healthcare REIT,” said Stefaan Gielens, CEO of Aedifica. “We can now accelerate the integration of both companies and ensure we apply the most effective strategies to create value for all stakeholders.”

Jean-Pierre Hanin, CEO of Cofinimmo, added: “This combination marks an important moment as we join complementary expertise, portfolios and ambitions. Together, we are uniquely positioned to unlock significant synergies and deliver sustainable long-term value.”

The merger had been anticipated for some time, as both companies have held discussions over recent months. The new entity will strengthen its pan-European position in senior housing, care facilities, and healthcare properties across more than a dozen countries.

Both companies are listed on Belgium’s Bel20 index. The merger is still subject to shareholder and regulatory approvals and is expected to be completed later this year.

^{© BELGA PHOTO BENOIT DOPPAGNE}