US hedge fund, Davidson Kempner Capital Management, is among a clutch of investors considering a bid for Four Seasons Healthcare.
Sky News revealed the hedge fund was amongst the parties interesting in buying the leading care home provider.
The report said the hedge fund, which is the landlord of some Four Seasons properties, would be competing with current Four Seasons creditor H/2 Capital Partners for the bid.
Alvarez & Marsal (A&M) took over administration of Four Seasons’ holding companies in April after talks to reduce the company’s debt failed (see BREAKING NEWS: Administrators appointed at Four Seasons’ holding companies).
A&M has reported that more than 45 potential buyers have shown an interest in Four Seasons and hopes a deal to be included by September (see Buyer in the offing for Four Seasons but Brexit scuppers Barchester deal, reports).
Four Seasons employs around 20,000 workers and cares for around 17,000 residents and patients in over 250 properties.
The care home provider secured additional funding from H/2 Capital to secure its operational business as it prepared for its sale in March (see BREAKING NEWS: Four Seasons secures additional funding as it prepares for sale).
Interest in Four Seasons has come, meanwhile, as a deal for Barchester Healthcare has apparently fallen through (see Buyer in the offing for Four Seasons but Brexit scuppers Barchester deal, reports).