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NEW YORK, Jan. 10, 2017 /PRNewswire/ — HC-One has today 10th January announced the acquisition of Helen McArdle Care with 20 high-quality care homes (1,343 beds) from family-owned HMC Group joining the HC-One business. In November 2014 HC-One was acquired by Formation Capital, Safanad and Court Cavendish in a £477m deal that brought new investment.
The deal will maintain the continued provision of the very best and kindest care across the Helen McArdle care home portfolio in the North-East of England, and is the latest development in HC-One’s journey – from turnaround to transformation.
With over 25 years of experience of providing the highest quality care, Helen McArdle Care operates 19 homes with one further home currently under construction. The acquisition includes the “At Home” business offering bespoke Homecare in and around the Newcastle upon Tyne area.
Helen McArdle Care was the first care provider in the UK to achieve four homes rated Outstanding by the Care Quality Commission in August 2016 and had an annual income in excess of £32 million pre-acquisition.
Today’s deal, financed by Deutsche Bank, is the latest part of HC-One’s ongoing strategy to focus on strong regional growth. HC-One’s strong financial position will ensure Residents at Helen McArdle Care continue to receive the kindest high-quality care through a range of specialist services.
Gleacher Shacklock LLP acted as exclusive financial adviser on the transaction.
Dr Chai Patel CBE FRCP, HC-One Executive Chairman said today:
“We are delighted to welcome Helen McArdle Care to the HC-One family – another major moment in HC-One’s journey from turnaround to transformation.
“Helen McArdle Care is an outstanding regional care provider, and shares HC-One’s values and commitment to providing high quality kind care.
“We look forward to welcoming these excellent homes, their Residents and dedicated staff into our family, and sharing and learning from each other to make all HC-One homes the best they can be.”
Helen McArdle CBE, Helen McArdle Care Chairman and Founder, said:
“I believe that HC-One share my commitment to providing the highest quality of care, comfort and service. Caring is at the heart of everything I do and it underpins my philosophy and values. I am confident that these homes will continue to thrive with their new owners who have an impressive track record.
“My priority throughout this process has been to ensure Residents, their families and staff teams continue to receive the care and support they deserve, and I wish everyone all possible success in the future.”
Steve Fishman, President and Co-Chairman of Formation Capital, said today:
“The Helen McArdle Care acquisition is a great development for HC-One.
“The acquisition represents the next step on our continued development of HC-One to the benefit of residents and broader stakeholders.”
Kamal Bahamdan, Founder & Chief Executive Officer of Safanad, said
“We remain committed to HC-One’s strategy and vision of expanding the portfolio of high-quality homes and providing the kindest level of care. The acquisition of Helen McArdle Care is yet another milestone in this journey.”