HC-One tight-lipped over sale report

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.

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Deven Pamben has more than 15 years’ experience as a journalist, working on newspapers, trade magazines and online publications. A Criminology graduate, Deven worked for Hertfordshire Constabulary before becoming a journalist. He began his journalism career at a local newspaper in Hertfordshire before moving into trade magazines in permanent roles or as a freelancer. Titles he has reported and edited on include Law Society Gazette, Harpers Wine and Spirit, and Health Club Management. Deven has also written travel features for the Sunday People, and spent two years working in Beijing for the official press agency of the People’s Republic of China.