The Orpea group, which has been rocked for over two years by accusations of failings in its care of residents and misuse of public funds, announced on Wednesday that it was adopting a new name, Emeis.

The change of identity marks a new stage for the company after a group of investors led by the Caisse des dépôts et consignations (CDC) took control of the group last December, making the French state its main shareholder.

Orpea's reorganization, concluded after a fast-track safeguard procedure aimed at reducing the group's heavy debt, has also resulted in significant dilution for shareholders. (Written by Diana Mandiá, edited by Blandine Hénault)