HC-One acquire Meridian Healthcare in £100m deal

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Dr Chai Patel-care industry newsMeridian Healthcare run by Yorkshire businessman Alan Firth has changed hands in a deal reportedly worth £100m.

Meridian Healthcare based in Hyde, which has 30 sites across the North West and Yorkshire, has been acquired by HC-One, a business led by the former boss of Priory Health Clinics Dr Chai Patel and backed by US healthcare investor Formation Capital.

The deal is said to be close to £100m.

The deal which concluded on Friday, marks the last day at the helm for Alan and Susan Firth, Meridian’s long-serving executive chairman and managing director, and finance director Barry Brooks.

Alan Firth, 60, a respected  personality within the independent care sector ordered a review of the business last year and appointed Knight Frank to find a new partner for the business, which was majority owned by two employee trusts. Meridian has more than 1,500 registered beds and employs around 1,200 staff.

He said: “We chose HC-One because of our shared values and dedication to provide the highest quality care for our residents. The HC-One team is committed to ensuring the best experience for residents, and the best working environment for staff, on a foundation of sector-leading financial stability. We know they will continue with our passion for outstanding care for all those we support.”

Dr Patel added: “We are delighted that the owners of Meridian have chosen HC-One to acquire the company. As a high quality regional provider, their care levels match our ambition to operate the kindest homes, with the kindest, most professional staff, to make a real difference to the lives of older people in the UK.

HC-One, recently announced details of its £100 million investment programme that will incorporate extensive refurbishment and upgrade schemes for its homes. This investment forms part of the organisation’s on-going drive to deliver the best possible experience and kindest care to Residents.

The investment programme furthers the groups transformation journey; commencing in April 2015 it will benefit all homes over a three year period transforming their gardens and interiors to provide exceptional living and lifestyle environments.

Working closely with specialist health and social care interior designers a range of interior schemes have been developed for onward consultation with Residents and relatives. The stunning interior schemes will be incorporated into all sitting and dining rooms; where possible themed rooms will be created including hair and beauty, games, reminiscence and garden rooms.

This exciting upgrade programme will seek to encourage Residents to enjoy outside space all year round through the inclusion of innovative covered areas that will protect will them from the elements; garden areas will be made more easily accessible and will include raised beds, attractive patio and seating areas. The programme will also incorporate a wide range of best practice design features that will help promote greater independence to Residents with dementia.

Residents and their relatives will be actively involved in choosing the designs and plans for their individual homes as HC-One will be running consultation events in line with the rolling refurbishment and upgrade programme.

Dr Chai Patel said:

“Thanks to the hard work and dedication of colleagues in our care homes across the country and the successful acquisition by Formation Capital, Safanad and Court Cavendish, we are now in a position to take the next important step in our journey on the road to delivering the kindest care.

“This is a major and significant investment that will upgrade our homes to the next level, creating the best care experience in our sector.”

Attributes:

HC-One

Chris Barry Editor North west. Business Desk.

 

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