Learning disabilities care provider Care Management Group (CMG) has been sold to global investment manager AMP Capital by HC-One owner, Court Cavendish.
The move follows the successful turnaround of CMG by Court Cavendish after it faced bankruptcy in 2008.
Dr Chai Patel CBE FRCP, Founder and owner of Court Cavendish, said: “I am really proud of what we have achieved at CMG. This is the result of the immense commitment and hard work of colleagues across the organisation – over many years. The strong leadership provided by the Board and the Senior Management of the company has been critical to the success of this first full Court Cavendish turnaround.
“I am so delighted that AMP Capital has acquired CMG because AMP Capital share our values and priorities. I am hugely confident that CMG will continue to thrive under their ownership.”
Court Cavendish’s turnaround of CMG has entailed significant financial investment in its quality of care, including staff and accommodation and a focus on improving care quality ratings. The health and social care turnaround company also installed a leadership to lead CMG’s transformation.
The Daily Telegraph reported the AMC Capital deal was in the region of £200m.