Press release

1,000 new care places for Germany - Cureus starts construction of approx. 810 units in Q2 2021 and completes 260 units

- From April to June 2021, 8 construction projects started across Germany

- These will create 498 inpatient care places, 196 assisted living units, 89 outpatient daycare places, 20 places in outpatient assisted living groups and 10 places for out-of-hospital intensive care

- Long-term leases agreed with various operators

- Completion of approx. 260 residential and care places in Gotha and Schwerin in April 2021

- New construction of our own office location in Marl

- All projects serve the organic growth of Cureus and remain in its own portfolio

Hamburg, 29 June 2021. In the second quarter of 2021 alone, Cureus GmbH started eight new construction projects in various regions across Germany on previously secured plots. In total, this marks the start of the development of a further 813 nursing and assisted living units, which are divided into 498 fully inpatient care places, 196 assisted living units, 89 outpatient daycare places, 20 places in outpatient assisted living groups and ten places for out-of-hospital intensive care. In the second quarter of 2021, Cureus is making great progress in its targeted growth strategy to expand its existing portfolio, as all projects are to remain in the company after completion and will be managed on a long-term basis in collaboration with the operating partners SCHÖNES LEBEN Group, MEDIKO and Insanto.

"With our significantly strengthened team and thanks to the large number of secured plots, we are now, a good six months after the launch of our new brand, in a strong position to execute significantly more projects in parallel", says Christian Möhrke, COO of Cureus GmbH. "Here we benefit above all from our system care home standard, which is based on the same planning and construction processes as well as uniform building specifications. The properties we develop all share the highest quality standards, attractive architecture and facade designs and blend seamlessly into their surroundings".

Gerald Klinck, CFO of Cureus GmbH, adds: "Thanks to the Cureus standard, we are completing more projects faster than the rest of the market. This brings us closer to our goal of completing at least 20 senior residences per year and further expanding our property portfolio. This strategy will allow us to substantially grow Cureus on an ongoing basis". The company has recently realigned its strategy as it repositions itself as a portfolio holder for care homes in Germany and as a build-to-hold rather than a build-to-sell developer of system care homes.

Projects to be launched in the second quarter of 2021

In Lengerich (North Rhine-Westphalia), the groundbreaking ceremony for the two buildings of the Lengerich senior residence took place on 19 April 2021. By spring 2022, 80 inpatient care places, 39 assisted living units, ten places for out-of-hospital intensive care and an outpatient daycare centre with 18 places will be built.

Construction of SCHÖNES LEBEN Gladbeck (North Rhine-Westphalia) started on 4 May 2021. The assisted living complex consists of an apartment building and three urban villas with 86 modern units, an outpatient daycare centre with 26 places and a mobile nursing service. Completion is planned for early 2023.

At the beginning of May 2021, construction work also began on a senior residence in Delbrück (North Rhine-Westphalia). The new residence is planned for completion by autumn 2022 with 80 wheelchair-accessible single rooms.

On 17 May 2021, the starting signal was given for the construction of the senior residence Flensburg (Schleswig-Holstein) with 144 barrier-free single rooms for inpatient and short-term care, 25 assisted living units and an outpatient daycare centre with 25 places. The senior residence is scheduled for completion by October 2022.

At the beginning of June 2021, the construction of a senior residence with a total of 110 places for full, short-term and respite care, four assisted living units and an outpatient assisted living group with ten places began in Neuruppin (Brandenburg). Completion is scheduled for autumn 2022.

Construction of the second phase of the senior residence in Greifswald (Mecklenburg-Western Pomerania) began in mid-June 2021. In addition to the first construction phase with 110 inpatient care places, 42 assisted living units, an outpatient assisted living group with ten places and an outpatient daycare unit with 20 places are now being built. The second construction phase is to be handed over to the operator in autumn 2022.

In June 2021, the construction of a senior residence with 84 care places also started in Preußisch Oldendorf (North Rhine-Westphalia). Completion is expected as early as late summer 2022.

In addition to the construction starts in the second quarter, two projects in Gotha (Thuringia) and Schwerin (Mecklenburg-Western Pomerania) with a total of around 260 residential and nursing care places were completed in April. These were also added to the Cureus portfolio upon completion. /

In Marl (North Rhine-Westphalia), a state-of-the-art, 2,000-square-metre office complex has also been under construction since mid-May 2021 for Cureus' 60-strong internal general contractor team, which is currently still spread across two different office locations in the city. Completion and move-in are planned for the end of 2021.

Planning and construction according to Cureus system approach

All new buildings are planned and built according to the Cureus standard for system care homes. This relies on uniform, high quality standards and is oriented, among other things, to the needs of the operators with a focus on the residents and the care staff. Thus, all properties are structurally optimised from the inside out: This concerns, for example, the size and arrangement of rooms to optimise areas and walkways. The on-site features have also been thought through in terms of utility: corridors receive as much daylight as possible, every room has floor-to-ceiling windows for a better view, and the modern bathrooms and window arrangements follow a standardised system approach. In the architecture and facade design, great importance is attached to individuality and the highest quality in order to fit in perfectly with the respective project environment. Sustainability aspects also play an essential role; for example, all properties are built according to the KfW 40 standard. Bundled procurement, for example of floor coverings or lift systems, also ensures cost synergies. Long-term maintenance contracts covering several properties also reduce costs for the subsequent operator. The permanent review and optimisation of this system approach guarantees the construction of properties that meet the needs.

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About Cureus GmbH

Cureus GmbH is based in Hamburg and is one of the leading build-to-hold care home companies in Germany with more than 15 years of experience and a team of approx. 115 employees. Cureus has developed an innovative new standard for full inpatient care and assisted living facilities, which can be implemented as a scalable, location-agnostic solution. Aligned to both current legislative requirements and the needs of operators and residents, the system care homes developed by Cureus establish new, uniform standards and represent a highly efficient product that combines greater cost-effectiveness in care with improved quality of living and service.