Four Seasons Health Care ("Four Seasons"), the UK’s leading independent health and social care provider, has acquired Optimum Care, which operates 17 care homes.
Optimum Care, which was created in June 2007 with the backing of Graphite Capital, operates the homes under the Avery brand name. The 17 homes have a total of 1,213 beds and employ about 1,100 staff.
This is the first significant strategic addition to Four Seasons since it came under the ownership last year of Terra Firma, one of Europe’s leading private equity firms.
Guy Hands, Chairman and Chief Investment Officer of Terra Firma, said: "Terra Firma is committed to ensuring that Four Seasons delivers the highest standards of care. We welcome the Optimum homes into the Four Seasons family and look forward to them becoming an integral part of Four Seasons."
Dr. Pete Calveley, Chief Executive of Four Seasons, said: "With Terra Firma's support we have a new capability to develop our position as the leader in an independent sector that has an increasingly important role alongside the NHS and local authorities in provision of elderly health and social care. We are also determined to lead the sector for quality and value. These Optimum homes have a very good reputation that is well deserved and reflects the high quality of the assets."
John Strowbridge, Managing Director of Optimum, said: "This is an exciting time for Optimum. Over the past six years it has developed from one trading unit to a portfolio of premium care homes providing high quality care for the rapidly increasing elderly population. The business is 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.
Date published: 15 September 2017
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