The potential buyer for the 150 care homes is the former chief executive of Priory Clinics, Chai Patel, who leads HC-One; a British healthcare management company.
The deal would make HC-One Britain’s largest care home operator. Presently, the company has about 250 homes, 200 of which came from the landlord of the failed Southern Cross.
HC-One generated £298 million in revenue last year, losing £4.2 million before tax. Its growing portfolio has been supported by a recent £287 million loan from Citibank, Deutsche Bank and Och-Ziff Capital Management.
Dr Patel recently shared his ambition for establishing a national brand of care homes that are akin to supermarkets:
“I can’t think of a decision in your life that is more difficult or more emotional than when you have to choose a home for your mum or your wife or your father. If you could have a set of brands that you know would be safe, then I think we could take away a lot of the suffering and the pain making those choices.”