Bupa sells 122 care homes for £300m

HC-one has completed the £300m acquisition of 122 care homes from Bupa, in a deal that makes it the biggest UK operator of residential homes. HC-One, formed out of the collapse of Southern Cross six years ago and run by chairman and former NHS doctor Chai Patel, will expand to around 350 homes with 22,000 care beds through the deal. Bupa retains around 150 care homes and six retirement villages, caring for over 9,000 residents and has plans to invest more than £120m on refurbishing and building care homes this year, up from £100m in 2016. The sale is subject to regulatory approval.