Bridgepoint and Care UK at due diligence stage
Health and social care provider Care UK’s management team is in advanced discussions with private equity house Bridgepoint Capital for a potential buyout.
In a trading update, Care UK said Bridgepoint Capital is now conducting due diligence following its preliminary offer of around £276 million.
Care UK said trading for the rest of the year was in line with expectations, and the pipeline for new business opportunities remained encouraging.
The statement revealed net debt rose to about £159 million for January 31 2010, compared to £156 million on September 30 2009.
Occupancy and fee rates across the residential and specialist care sectors of the company remained satisfactory and the healthcare business, the company said, was performing above expectations.