Bupa has announced an agreement to sell part of its UK care home business to HC-One, subject to regulatory approval, in a transaction totalling around £300m1.
The sale will see the transfer of 122 care homes to HC-One, a leading provider of health and social care in the UK.
Bupa will retain around 150 care homes and six Richmond Villages caring for over 9,000 residents, with a further four care homes and two retirement villages under construction.
David Hynam, Chief Executive Officer, Bupa UK said, “We remain one of the main providers of residential care in the UK, and a major investor in the sector. This move enables us to focus our investment to continue to provide high quality care for our residents, both now and in the future. This year, Bupa will invest more than £120m into refurbishing existing homes and building new care homes and retirement villages. Bupa and HC-One have a shared commitment to excellence in care. We will work together over the coming months to ensure there is minimal change for residents and their families, and that they continue to receive the high quality care from the same dedicated teams.”
Bupa’s investment of more than £120m in 2017 into its care homes and retirement villages is in addition to £100m invested in 2016 in building, refurbishing and maintaining its homes.
1. Total transaction value subject to potential adjustments.
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