Bid for Craegmoor fails

Posted on February 1st, by editor in Caring Times. No Comments

A bid by Godfrey Bradman to buy Craegmoor Healthcare will not proceed. Bradman, who made his name in the 1980s property boom, is believed to have teamed up with Prudential Insurance Company of America to make an offer of up to £170 million for the long term care provider which owns more than 3,000 nursing home beds. In mid-January Craegmoor chief executive Frank Richardson told Caring Times that discussions with Bradman had ended with no sale proceeding. “We are presently engaged in looking at the future financial structure of Craegmoor,” Mr Richardson said. Two other bids for Craegmoor, understood to be less than that offered by Bradman, have been made by the American funds Apollo and Texas Pacific, and are believed to be still in the ring.

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