Advinia buys 22 care homes from Bupa
Advinia Health Care is has purchased 22 nursing and residential homes from BUPA totalling 2714 beds, expanding its portfolio from 16 to 38 homes with 3250 beds, putting Advinia into the top 15 care providers in the UK.
Privately owned, Advinia was founded by Dr Sanjeev Kanoria and his wife Sangita in 1999. Dr Kanoria is the chairman of the group, is an ex-Mckinsey consultant and liver transplant surgeon in London. He is also the owner and deputy chairman of a commercial bank in Austria.
The group is part of the Kanoria Foundation which owns Srei Infrastructure Finance Ltd, the largest infrastructure finance company in India.
“It is satisfying to be able to invest confidently in the market where it has been clearly identified that there will be a lack of quality bed provision over the next five years,” said Dr Kanoria.
“We have plans to invest and develop further.”
Advinia has won several awards for innovation and quality care including the launching of culturally sensitive robots to help dementia residents and prides itself on providing “engaging and homely” style homes with a specialism in dementia care. David Hynam, chief executive of Bupa UK, said the sale of the 22 care homes to Advinia completed the second strategic step to reshape Bupa’s care homes business.
“We continue to be one of the biggest providers in the sector and have committed over £120m to refurbish existing homes and build new care homes and retirement villages this year, on top of more than £100m invested last year,” he said.