Private firm to buy Four Season care homes
Published on 30 April 2012 10:30 AM
Four Seasons Health Care is to be sold to private equity investor Terra Firma for £825 million, it has been confirmed.
The care provider owns a total of 445 care homes around the UK, with around 20,000 residents and 30,000 staff.
Four Seasons Health Care also owns 61 specialist care centres, making it the UK's biggest independent provider of specialist care and care of older people.
Terra Firma is a private equity company owned by financier Guy Hands, who lost control control over music company EMI last year.
He said: 'Our number one priority is to ensure that Four Seasons delivers consistent high-quality care and peace of mind for residents, service users and their families.'
The deal is expected to complete on or before July 16.
The requirement for care provision is forecast to grow annually by 3.1% over the next 10 years, driven by the needs of a growing ageing population.
Copyright Press Association 2012