Mon, 31 Jul 2017 | DIVISION SALE
International healthcare group, Bupa, is preparing to sell almost half of its care homes in a deal that is expected to come to around £450 million.
The potential buyer for the 150 care homes is the former chief executive of Priory Clinics, Chai Patel, who leads HC-One; a British healthcare management company.
The deal, currently in the advanced stages of talks, would make HC-One Britain's largest care home operator. Currently, the company has around 250 homes, about 200 of which came from the landlord of the failed Southern Cross.
HC-One generated £298 million in revenue last year, losing £4.2 million before tax. Its growing portfolio has been supported by a recent £287 million loan from Citibank, Deutsche Bank and Och-Ziff Capital Management.
Dr Patel recently shared his ambition for establishing a national brand of care homes that are akin to supermarkets:
“I can’t think of a decision in your life that is more difficult or more emotional than when you have to choose a home for your mum or your wife or your father. If you could have a set of brands that you know would be safe, then I think we could take away a lot of the suffering and the pain making those choices.”
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