CM Company News

Property consultant Knight Frank has predicted that care home provider HC-One will be sold by the end of the year, adding further fuel to speculation that a deal is in the offing. In its UK Healthcare Market Review Autumn 2013 (see this issue News), Knight Frank said that the end of 2013 could see the disposal of HC-One and a number of mid-cap corporate operators as the finale of restructuring processes’. Four Seasons Health Care is one company currently being mooted to take on the provider formed two years ago the collapse of Southern Cross (CCMn July 2011). Sector sources told CCMn that it would make a lot of sense for Four Seasons to buy HC-One. It recently refinanced (CCMn May 2012) and HC-One’s portfolio of homes would make a good fit with Four Seasons’ community-focused care division, with a few going into its private-pay arm. It’s an estate that Four Seasons is extremely familiar with and acquiring it would leave Four Seasons in a strong position ahead of a possible sale or flotation next year. According to The Sunday Telegraph, Four Seasons owner Terra Firma has held meetings with the management of and is planning a first-round bid for the business, including landlord NHP, which has been valued in the region of £550m to £600m. Other bidders reportedly included a number of US-based private equity bidders and real estate investment trusts. HC-One is a wholly-owned subsidiary of former Southern Cross landlord NHP and the estate is managed by Court Cavendish. The business was officially launched on 1 November 2011 when around 33% of the former Southern Cross estate was transferred to the company and it entered the sector as the third largest UK provider of long-term care.

East Anglian care home provider Healthcare Homes has announced plans to increase capacity at a trio of its sites under its ongoing refurbishment and improvement programme.

The ExtraCare Charitable Trust reported a 45.2% increase in turnover for the year ended 31 March 2016 from £56.3m to £81.8m. Operating costs of...

CMG HoldCo, the company which acquired Care Management Group on 2 December 2013, also the date it commenced trading, reported revenues for the 23-weeks ending 28 February 2014 of £12.8m. After cost of sales of £7.6m and administrative expenses of £3.2m were deducted, the new company achieved an operating profit of £1.9m.

Health and community care investment firm, MedicX Fund Ltd, has reported strong growth of in its end of year results for 30 September 2011. It showed EBITDA had increased 17.5% to £9m on the previous year (£7.7m) with adjusted earnings of £4m, an increase of £1.3m, or 51.1% from 2010.

About to embark on a massive project which will see his company join the Saga Group (CCMn August/September 2011), Allied healthcare head Sandy Young told delegates at Laing & Buisson’s Investing in Healthcare conference that the demographics, increasing acuity of needs in home-based care, the emergence of lower cost models and the expansion of consumer choice all present exciting opportunities for providers.

CareTech Holdings, UK provider of specialist social care services, issued a trading update for the first half of the financial year.

Spire Healthcare has teamed up with over-50s specialist Saga to offer its patients a post discharge rehabilitation service.

The Healthcare Property Fund managed by the social investment house Bridges Ventures in partnership with specialist care developer Castleoak has built up a total of £50m in its first push – money that will be used immediately to back a number of off-market, pre-let’ developments.

Specialist social care provider Caretech has been refinanced in a deal worth £150m following negotiations with four banks.