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.
- Bupa Fined £175,000 For Systemic Data Protection Failures
- IPMI Boom: Survey Reveals UK Businesses Plan More Overseas Assignments In 2018
- Bupa Launches Rapid Diagnosis Pathways In London
- International Medical Group Appoints Steve Paraboschi As Executive Vice President
- Bupa Appoints New Head Of SME Intermediary Development
- Bupa Appoints Caroline Silver As Board Director
- Video: AXA Half Year 2017 Earnings Interview with Thomas Buberl, CEO of AXA
- Video: Tom Wilkinson CEO of AXA’s Global Healthcare Business Talks About Developing Global Talent
- Bupa Announces New Leadership For Its Market Units In Australia And New Zealand And The UK
- Bupa Half Year Results 2016
Latest from iPMI Magazine
- Mandatory Health Insurance System To Be Applied In All Azerbaijani Hospitals
- Don’t Forget Your Green Card - British Insurers Issue Advice To Customers On No-Deal Brexit
- Unitedhealth Group Reports 2018 Results Highlighted By Continued Strong And Diversified Growth
- New Chief Commercial Officer At Global Excel Management
- Treasury, USTR Sign Bilateral Agreement With The United Kingdom On Prudential Measures Regarding Insurance And Reinsurance