New bid made for NHP


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

There is speculation that NHP, the UK¹s biggest care home owner and operator, is the subject of a £50 million bid by property entrepreneur Leo Noe. Noe already owns a small care home business which he has been keen to grow. He is reported to have been waiting for care home prices to fall before making the bid for NHP. If his bid is successful, Noe will have to take on debt of almost £600 million arising from three asset-backed bond issues made over the past four years. During the past two years, NHP ran into trouble when a number of its tenants, operating care homes on sale and leaseback arrangements, went into liquidation, being unable to meet rental payments in the face of increasing staff costs and low fees. A reverse takeover last year by NHP¹s biggest tenant, Southern Cross Healthcare, failed but there is speculation that if the Noe bid is unsuccessful, talks between NHP and Southern Cross could resume. In April, the NHP board rejected a £30 million bid for 20 care homes, led by a British investment





Comments are closed.


Latest blog posts

A job in care – what’s it worth?

By Caring Times editor GEOFF HODGSON

While the Cavendish Coalition, with formidable representation of both the NHS and private social care sector, lobbies to protect the...

End of life care – care homes can do it well

By guest blogger Professor Keri Thomas,

Clinical director, National GSF Centre for End of Life Care

News that care homes could, based on current trends, overtake...

The DTOCs dashboard dilemma

By guest blogger JEF SMITH

The Department of Health refers to delayed transfers of care – the issue of people not being able to move...