Chai Patel keeps mum over Westminster buyout report

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

As Caring Times went to press, Westminster Health Care¹s chief executive Dr Chai Patel has hosed down speculation that a sale of the company¹s senior living division is imminent. The company¹s senior living division is reported to be the target of a management buyout backed by venture capital house 3i. The deal, said to be worth more than £270m, is expected to be completed in January, according to a report carried by the Sunday Times on December 16. Westminster Health Care, a former public company, was taken over in April 1999 by Whitehall, a private equity fund controlled by Goldman Sachs and Welsh Carson Anderson & Stowe of New York. The takeover saw Dr Patel appointed as chief executive, with Tony Heywood as chief operations officer. Mr Heywood, now the incumbent managing director of the senior living division, is reported to be skippering the management buyout, backed by 3i, which is said to have emerged as the likely winner after a bidding contest with BUPA. The senior living division amounts to 5,80

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