HC-One has held talks over a possible £450m acquisition of Bupa’s care home business.
The Financial Mail on Sunday reported that the deal, which would make HC-One the UK’s biggest care home operator, would involve the acquisition of 150 Bupa sites.
HC-One boss Dr Chai Patel chief, who recently announced that he was standing down from his role as CEO, (see HC-One appoints new CEO) was reported to have appointed investment bank Gleacher Shacklock to advise him on the deal.
Care Home Professional has learnt Bupa has held talks over the sale of its care home business with a number of potential buyers.
Bupa’s care service has come under the spotlight in recent months with former carers being convicted of abuse (see Former Bupa nurse suspended after injuring resident) and homes being placed in special measures by the CQC in recent months (see Bupa home placed in special measures).
During a 30-year career in care, Dr Patel has become renowned for turning around struggling business and care assets, including 200 Southern Cross Homes, which he bought from landlord NHP in 2011.
HC-One acquired 20 homes from north-east provider Helen McArdle earlier this year (see BREAKING NEWS; HC-One buys Helen McArdle Care).
Dr Patel told Care Home Professional recently he aimed to build HC-one into one of four or five national care home providers, which will become synonymous with good quality care.