Care UK sells homecare services to Mears Group
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Care UK has sold its homecare services, supporting around 13,000 people in their own homes, to Mears Group.
Care UK chief executive Mike Parish said the transaction completed a refocusing of the company’s health and social care portfolio following a strategic review of options for mental health, learning disability and homecare services, allowing the organisation to concentrate on the development of its provision of primary and secondary NHS health services and on the completion of its programme of new residential and nursing homes. The transfer of learning disability services to Lifeways and mental health services to Partnerships in Care were both announced earlier in May.
“We are pleased to have reached very positive outcomes for patients and services users, colleagues and commissioners in all three services,” said Mr Parish.
“Care UK has a strong record of growing services across the health and social care markets, and has now taken clear decisions as to which services best fit our future portfolio and which will better fit within other strong provider organisations seeking to build their own market leadership in discrete sectors.”
Overall, the three transactions resulting from Care UK’s strategic review have realised £130m (before fees and expenses) from services representing a combined annual EBITDA of £12.9m for the preceding year.
“The strategic review process which is now completed strengthens Care UK’s positioning for future growth within both the health and social care sectors,” said Mr Parish who added that service users and commissioners of Care UK’s former homecare services should not see any changes in services and care workers, operational leaders and support teams were transferring to Mears on their existing terms and conditions. Care UK remains one of the major health and social care providers in the UK with an annual revenue base of £600m.