Four Seasons Health Care, the Wilmslow-based chain of 416 care homes and hospitals, has been acquired by finance group Three Delta for £1.4bn. Allianz said that the sale price represents around 14 times EBITDA for the current year, and includes assumed debt. Three Delta will acquire the business through its Delta Commercial Property investment vehicle. Allianz purchased Four Seasons in August 2004 from private equity company Alchemy Partners for £775m, and the business has since acquired BetterCare Ltd, the Northern Irish care home operator, for £116m. Since putting the business up for sale in early 2006, Allianz has rejected approaches from a number of parties, including 3i, Iranian businessman Vincent Tchenguiz and Terra Firma Capital Partners.