Corporate activity in the private social care sector is set to
rise in 2010 according to specialists at Browne Jacobson who have
been acting on a spate of high profile deals.
The firm's private social care team recently advised the Royal
Bank of Scotland, working alongside RBS Relationship Director Kenny
Nelson, in connection with the acquisition of St Cyril's
Rehabilitation Unit by St George's Healthcare Group. Julie Newton
led the Browne Jacobson team.
St Cyril's Rehabilitation Unit is a purpose-built facility
located in the grounds of the Countess of Chester Hospital
providing 20 en suite single rooms and specialist accommodation and
rehabilitation facilities to meet the needs of individuals with
physical disabilities or sensory or cognitive
impairments.
Other RBS-backed deals which the firm has acted on over the last
few months include a series of acquisitions by Bondcare, one of the
UK's largest privately held care-home companies.
This included the purchase of land at Dawley near Telford
for the development of a 72 bed residential care home, development
of a residential care home at Bromford Lane, Washwood Heath,
Birmingham as a residential care home and the proposed
redevelopment of an 82 bed residential care home at
Stourbridge Road, Halesowen.
The team has also been advising NatWest, working with Kenny
Nelson and NatWest Associate Director Richard Wilson, on the
refinancing of Moundsley Hall, a 48 bed care home operated by
Moundsley Hall Limited.
Oliver Pritchard, Head of the Private Social Care Team at Browne
Jacobson, said: "The sector could be one of the most active
areas for corporate activity in 2010. In recent years we have seen
a number of the larger corporate operators expanding through
mergers and acquisitions whilst niche operators have been snapping
up smaller sites. With the number of people aged over 75 expected
to reach over six million by 2025 the demands placed on the social
care sector will undoubtedly continue."