Tue, 17 Sep 2019 | BUSINESS SALE
Impact REIT has successfully acquired Cardinal Healthcare, a group of family-run care homes based in Suffolk, in a deal which will allow the founding shareholders to make a full exit.
Cardinal Healthcare presently boasts two residential facilities with 98 beds. The Baylham Care Centre in Great Blakenham has been awarded an Outstanding rating by the Care Quality Commission (CQC), and the Barham Care Centre near Claydon has received a Good rating during the most recent inspection.
Health and social care provider Optima Care will take over the lease of the two care homes from Impact REIT.
Managing director of Cardinal Healthcare, Adrian Fairburn, said: "Impact is a leading healthcare investor in the UK and brings the financial capability to develop the homes and ensure they are able to continue to deliver much-needed care services in the area.
"Optima Care is the ideal partner to operate the homes, with extensive experience operating care homes across the country and it is great to see the market in Suffolk being put on the map where there is an increasing demand for high quality residential and nursing homes."
The deal was supported by a number of individuals, including head of corporate finance for KPMG East Anglia, Chris Wilson, and healthcare M&A for KPMG, Tony Ball.
Wilson said: “The completion of this acquisition has delivered an excellent result for the shareholders and provided a strategic base for Impact and Optima to build a hub in East Anglia where there is a strong demand for high-quality care services.”
"We continue to see significant interest in high quality healthcare businesses and are delighted to have worked with Cardinal Healthcare on this transaction which represents our 14th successful UK healthcare M&A transaction over the last 12 months," added Ball.
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