Four Seasons Health Care ("Four Seasons"), the UK's leading independent elderly care provider, has acquired seven homes from Majesticare, a privately owned care group with a portfolio of 16 premium homes that primarily serve self-funded clients.
The seven homes that Four Seasons has acquired have a total of 358 beds and employ 410 staff.
Four Seasons recently announced a strategy to develop a private care division that will provide high quality elderly care, together with hotel standard services and activities programmes designed primarily, but not exclusively, for self-funded customers who see the option of a care home as a life enhancing choice.
This is the third significant strategic addition to Four Seasons since it came under the ownership in 2012 of Terra Firma, one of Europe’s leading private equity firms. Last year it acquired Optimum Care, which operates 17 care homes serving the private market under the Avery brand name, as well as four care homes in Bristol from Mimosa Healthcare Holdings Ltd.
Ian Smith, Chairman and CEO of Four Seasons, said: "With Terra Firma's support Four Seasons is building on our position as the leading independent care provider. Our strategy is to develop three focused businesses that are well positioned to meet the needs of the changing care markets and, in doing so, to increase our value. Our private care business will have more than 80 premium homes. We have a continuing commitment to lead the sector in care provision for residents who are publicly funded and we will develop a national network of more than 370 homes offering personalised dementia and nursing care. Our specialist subsidiary the Huntercombe Group provides care, treatment and rehabilitation services in mental health and brain injury that are complementary to the NHS."
Guy Hands, Chairman and Chief Investment Officer of Terra Firma, said: "The acquisition of high quality assets to add to Four Seasons' portfolio of care homes is an important aspect of Terra Firma's strategy for the business. The Majesticare homes have an outstanding reputation and they will be an excellent addition as Four Seasons continues in its commitment to provide the highest standards of care and best value for private and publicly funded residents alike."
Roger Pratap, Chairman of Majesticare, said: "This is an exciting development for the Majesticare homes that have become part of Four Seasons. Majesticare has been providing top quality care and service in hotel-like surroundings since 2000. These homes are now well placed to build on that success with the backing of Four Seasons and Terra Firma."
The transaction will not result in any noticeable change to the day-to-day operations of the homes, or for their residents or staff.
About Four Seasons Health Care
Four Seasons Health Care is the leading independent provider of health and social care services with 445 care homes, in the UK, Isle of Man and Jersey. It ranks among the highest-rated providers for quality of care and also leads the sector in the development of specialist services for people with higher dependency needs. These include an award winning specialist dementia service, nursing care for frail elderly, respite and palliative care. Its specialised services division, The Huntercombe Group, operates 56 hospitals and care centres and is a leading provider in the areas of adult, child and adolescent mental health, acquired brain injury, neurodisability, eating disorder and addictions and children with special needs
About Terra Firma
Founded by Guy Hands in 1994, Terra Firma is one of Europe's leading private equity firms. Terra Firma specialises in the acquisition and fundamental transformation of asset-backed businesses in essential industries, focusing on investments in transformational private equity, operational real estate and infrastructure. Over the last 20 years, Terra Firma has invested over €15 billion of equity and completed transactions with an aggregate enterprise value of €45 billion.
Majesticare is a group of premium care homes primarily catering for self-funded clients. The group is privately owned and operated and has been providing top quality care and service in hotel-like surroundings since 2000. Prior to the acquisition of seven homes by Four Seasons Health Care, the group had a portfolio of 16 homes.
Date published: 15 September 2017