Bridgepoint announces sale of Care UK

Bridgepoint today announced that it had sold Care UK, a provider of residential care for older people to the public and private sectors. On the back of the transaction, Care UK’s homes will be run by an operating company that has been acquired by company management.

Financial details of the transaction are not disclosed.

Care UK operates 163 care homes across the UK, having more than doubled its estate under Bridgepoint ownership from 59 at entry. It has also increased the proportion of higher-margin private-pay residents from 5% to more than 50% and continues to demonstrate market-leading quality of care, as determined by the Care Quality Commission in England and Care Inspectorates in Scotland and Wales.

Care UK is widely recognised for the high quality of its care delivery. It has been named as Care Home Provider of the Year five times in the last four years by the likes of Laing Buisson, the Health Investor Awards, the Caring UK Awards and the Care Home Awards. The company has some of the strongest regulatory ratings in the sector, with more Outstanding-rated homes in England than any other care home provider and 100% compliance in both Scotland and Wales.

Acquired by Bridgepoint in 2010, the business was formerly part of a broader platform that also included a Healthcare division (rebranded as Practice Plus Group, subsequently divested in 2019 and still owned and managed by Bridgepoint).

Andrew Knight, Chief Executive Officer of Care UK, said:

“Bridgepoint has been an incredibly supportive investor for almost 14 years which has enabled us to deliver some of the highest quality care in the UK, alongside what is arguably the largest long-term newbuild development programme in the sector.  Care UK is now well positioned to continue delivering the very best care for residents and to drive our ambitious plans for future growth. The Care UK leadership team remains committed to delivering the highest quality of care and we are looking forward to this next step in the evolution of Care UK."

Bridgepoint was advised by: Barclays (corporate finance), A&O (legal) and EY (financial/tax).

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