NHP to be acquired by US-based consortium for £477m

After months of wrangling with its bondholders over its sale (CCMn June 2014), NHP is to be acquired by US investment firm Formation Capital in partnership with global investor Safanad, Court Cavendish and the management team of HC-One. The deal, which is expected to be completed later this month, will see the ownership of NHP’s 273 freehold care homes, including the HC-One estate of 235 facilities, acquired for £477m.