Sapio Life focuses its expansion in Spain with new services and opens up to acquisitions
The Sapio Group’s healthcare division will allocate $35.6 million (€30 million) to the Spanish market, the largest amount after Italy. The company is studying the launch of new services and is considering new agreements and acquisitions. Sapio Group’s healthcare division had a turnover of $5.35 million (€4.5 million) in 2020 in the Spanish market and expects to reach $23.76 million (€20 million) in five years.
The Sapio Group’s healthcare division is focusing its international expansion in Spain with the launch of new services. The company specializing in respiratory therapies will allocate a total of $35.6 million (€30 million) to the Spanish market, the largest investment after Italy, without taking into account possible acquisitions.
The company entered the Spanish market in October 2019 after Grupo Sapio bought Contse. Sapio Life has identified Spain as a priority market among its internationalization outside Italy, which also focuses on France, Germany, Slovenia, and Turkey. The Sapio Group’s healthcare division markets respiratory home therapies in the Spanish market, but is considering launching new services that it already offers in other countries.
Sapio Life plans to launch in Spain “infusion therapies, nutrition, dialysis and long-term home health care,” said Francesca Paludetti, managing director of Sapio Life.
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Sapio Life operates in Italy, Spain, France, Germany, Slovenia and Turkey
Sapio Group also owns laboratory analysis and cryogenetics companies that offer diagnostic tests for Covid-19, hyperbaric chambers and other health care aids, in addition to owning clinics in Italy and Germany.
The company seeks to increase both the number and type of therapies provided in Spain. The expansion plan, in addition to organic growth, also includes possible deals and acquisitions. “We are interested in investing in respiratory therapies if there is an opportunity for acquisitions, we are looking at similar businesses that accompany what we are already doing to expand into other typologies,” Paludetti assures. The group is open to acquisitions, although without time targets.
The company specializing in home therapies is also looking to grow through public tenders, a system that differs from the other markets where Grupo Sapio’s healthcare division operates, which combine public tenders with accreditation. This process consists of the physician choosing the therapy and provider that should deliver its services to the patient. The Italian market used to have the same procedure as the one currently in place in Spain, but now combines public tenders with accreditation. Paludetti explains that, although the system of public tenders hinders growth, “the company knows the process well and has the experience of Italy”.
Sapio Life invoiced $5.35 million (€4.5 million) in Spain in 2020 and aims for twenty million in five years
Sapio Life is awaiting the resolution of a public tender in Spain and Paludetti also points out that there are several processes that have been delayed by the pandemic. Sapio Group’s healthcare division had a turnover of $5.35 million (€4.5 million) in 2020 in the Spanish market and expects to reach $23.76 million (€20 million) in five years. The company specializing in respiratory therapies performs 20,000 therapies in Spain after being awarded the contract for home respiratory treatments in the province of Huelva for the Andalusian Health Service for the past five years and for the health areas of Cartagena and Mar Menor in Murcia in 2019. In total, the company offers its services to more than 150,000 patients in Europe.
Sapio Life has a plant in Spain in San Sebastián de los Reyes (Madrid) and forty employees, after expanding it by 20% in the last year. Sapio Group, which also produces technical and industrial gases, recorded a turnover of $760 million (€640 million) in 2020. The company has 2,200 employees and is owned by two Italian families and Air Products, which controls 49% of the shareholding.
(Featured image by AlexFedini via Pixabay)
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First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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