Meridian Healthcare portfolio sold
Caring Times Latest
Knight Frank healthcare team has sold a portfolio consisting of 30 care homes on behalf of Meridian Healthcare Ltd to Formation Capital and HCPI, for more than £100m.
Meridian is the 32nd biggest UK care home operator by number of registered beds, totalling 1,500, and employs about 1,200 people. All of the homes in the portfolio are purpose built and all bedrooms are in single occupancy. The business was founded by Alan Firth in 2000 and the headquarters are based in Hyde, Manchester.
The portfolio will be operated by Dr Chai Patel, acting chief executive and founder of HC-One. Gleacher Shacklock advised Formation Capital.
Knight Frank head of healthcare Julian Evans said Meridian enjoyed a reputation for providing outstanding care.
“There was significant competitive tension for the portfolio both from domestic and international capital and this demonstrates increasing investor appetite for UK healthcare,” he said.