Since 1991 (the end of the communism era and the birth of EBRD) the life of the majority of Eastern Europeans has been changed significantly. But not for everyone: the elderly in Eastern Europe still live somewhere in 80 ies.
After the collapse of the Soviet block the retail networks, hotels, banks, and infrastructure of Eastern European countries have caught up quite fast with their Western homologues. But the majority of existing Social Care institutions are still Soviet-Era built and are managed the same way as when they were created 30-40 years ago. The democratic changes promoted in EE countries have not yet eliminated the most serious fear of the population born in the middle of the 20th century — the fear of aging. The aged care in “New Europe States” is not yet as developed as in the rest of the EU. Government-allocated funds are not sufficient to ensure the necessary level of investments into existing and newly created retirement residences.
This is a great opportunity for today’s investors. Eastern Europe can and should repeat the construction boom of senior residences, which started in France and Germany 30 years ago and is still going on.
The alliance of Senior Group and Group Almage, in a form of a joint venture, is creating a non-governmental network of live-in facilities in Eastern Europe.
Senior Group (trademark of SARL “OPI conseil”, Paris) together with Group Almage (France, 700 beds in France and Belgium under management) has already created “Senior Group Russia” back in 2009. Today it is the biggest network of retirement facilities in Russia. Also in 2010-2011 Senior Group together with Batipart (the founding fund for Korian - the biggest in Europe network of EHPADs for today) has established the series of JVs in Baltic states: Senior Baltic (Latvia), Senijoras Baltijoras (Lithuania) and Senior Poland (Poland).
The JV “Senior New Europe” activity will be based on the following main principles of the European Senior Care.
- Respecting all the fundamental rights of aged person
- Assisting in maintaining family ties for all and any resident
- An integration with the existing social care system to support rather than compete with the existing government-provided services
- Creating only disabled-friendly residences