1. General Presentation of the Group

1.1 About the Issuer

1.1.1 Administrative Information

• Company Name: Ramsay Générale de Santé
• Registration Details:
  • Paris Trade and Companies Register: B 383 699 048
  • APE Code: 6430Z (investment funds and similar entities)
  • LEI (Legal Entity Identification): 96950011EJGUAT223F44
• Stock Exchange Listing: Listed on Euronext Paris, ISIN code FR0000044471
• Incorporation and Term: Incorporated on November 29, 1991, for 99 years
• Registered Office: 39 rue Mstislav Rostropovitch, 75017 Paris, France
• Contact Information:
  • Telephone: from France - +33(0)1 87 86 23 00, from abroad - +33 1 87 86 23 00
  • Website: http://www.ramsaysante.fr

1.1.2 History and Development of the Company

Initial Development

• 1987: Creation of Générale de Santé by Compagnie Générale des Eaux.
• 1991 - 2001: Expansion in medicine, surgery, obstetrics, psychiatry. Multiple acquisitions domestically and internationally.
• IPO in 2001: Listed on Paris Stock Exchange; Cinven held 39.5% shares.

Ownership Changes

• 2003 - 2007: Dr. Antonino Ligresti and Efibanca acquire majority shares. Later, Santé Développement Europé launches a takeover bid, establishing a long-term shareholder structure.
• 2013 - Onwards: Partnership with Ramsay Health Care, leading to a merger on July 1, 2015. Formation of Ramsay Générale de Santé.

Recent Developments

• 2018: Acquired Capio AB, a major European healthcare provider.
• 2020: Acquired facilities like Clinique de la Recouvrance and Polyclinique du Parc Drevon in France.
• 2021: Expanded in Norway with acquisitions like Nimi and Barcode.
• 2022: Acquired GHP Specialty Care AB, expanding presence in Sweden and Denmark.

Mission Statement

• Purpose: "Improve health through constant innovation"
• Mission-Driven Company: Four social and environmental objectives added to bylaws:
  1. Promote access to healthcare for all.
  2. Develop medical innovation.
  3. Systematise dialogue with stakeholders.
  4. Protect the planet to improve health.

1.2 Business Overview

1.2.1 General Business Overview

Ramsay Santé operates 463 healthcare facilities across five countries: France, Sweden, Norway, Denmark, and Italy. It employs 38,000 staff and over 9,300 practitioners. The Group offers comprehensive care: primary care, MSO (Medicine-Surgery-Obstetrics), oncology, medical imaging, MCR (Medical Care and Rehabilitation), mental health, and addiction treatment.

1.2.2 Strategy

Background

The Group's strategy is aligned with regional healthcare systems, aiming to treat all patients and pathologies. Challenges include aging populations, technological advancements, financial pressures, and new competitors.

"Yes We Care 2025" Corporate Project

Pillars

1. Excellent Care in Hospitals:

   • Strengthen care expertise in key regions (e.g., oncology).
   • Diversify care offering.
   • Develop medical imaging.

2. Digital-Physical Primary Care:

   • Develop and connect regional medical centres.
   • Promote digital accessibility.

3. Prevention Services:

   • Create preventive health services.
   • Develop innovative financing models.

4. Innovative Care Offer:

   • Accelerate mental health day care.
   • Develop care outside hospitals/clinics.
   • Offer segmented medical services based on population needs.

Transformation Enablers

Seven key projects for transformation supported by the Ramsay Health Care group:

1. Patient experience and branding.
2. Attractiveness of employer brand.
3. Medical quality at the heart of service.
4. Attract and retain top doctors.
5. Operate and use data effectively.
6. Foster Group mindset and culture of innovation.
7. Corporate Social Responsibility (CSR).

Country-Specific Strategy

• France:

  • Focus on primary care, medical imaging, and mental health improvement.
  • Maintain a leadership role in MSO/MCR, enhance care networks (oncology, etc.), and modernize facilities.

• Sweden:

  • Develop integrated health pathways with digital-physical solutions.
  • Expand geographical presence and healthcare services.

• Norway:

  • Create primary care centres through innovative partnerships.
  • Develop MSO activity.
  • Strengthen mental health services.

• Denmark:

  • Expand medical imaging.
  • Increase private insurance-driven activities.

1.2.3 The Group's Fundamentals

Networked Healthcare Facility Management

Regional divisions combine MSO facilities and sometimes MCR facilities to create a networked care offer for comprehensive and coordinated care.

Medicalisation of Decision-Making

Involves the medical community in decisions, optimizing processes, and better aligning with regional needs.

Quality Policy Continuation

Investment in facility modernization and continuous improvement of medical quality and patient satisfaction, adhering to standardized quality processes.

Promotion and Retention of Medical Community

Encourages dialogue with medical professionals, focuses on training, and aims to attract and retain top talents.

Coordination of Regional Stakeholders

Efficient regional healthcare management through grouping facilities, creating reference centres, and implementing divisional medical projects.