HC-One is remaining tight-lipped over a report that the company is up for sale.
According to the Financial Times, the provider, which has more than 360 care homes, is on sale for £1bn.
The company said: ‘HC-One never comments on market speculation. Our only focus is providing all our residents with the care they expect and deserve, day in day out.’
HC-One, which was established by Chai Patel in November 2011, has grown to become the country’s biggest care home provider. It acquired 122 Bupa care homes in August 2017 for £300m.
As reported last week, it is in the process of offloading a handful of care homes it bought from Bupa after a ‘comprehensive review’ of all the homes that were part of the deal.
HC-One’s accounts for the year ended 30 September 2017 showed turnover rose 2.5% to £305.6m during the 12-month period, from £298.1m, the year previous. Pre-tax profit at the business stood at £1.7m last year, up from losses of £3.5m in 2016. EBITDAR was £48.6m, slightly down on the £49.5m in 2016.