Healthcare Homes Group ("HHG") has completed the acquisition of Claremont Nursing Home ("Claremont"), a privately owned elderly care nursing home in Caistor, Norfolk.
Claremont has 26 registered beds within a modern purpose-built unit. Planning permission has been granted for an additional 24-bed extension. "This recent acquisition has increased HHG's critical mass to almost 700 beds across 17 homes," said chief executive Richard Clough. The company, created by Clough and fellow professional care industry managers Graham Lomer and David Bates, has, over the years, developed a reputation for high-quality delivery.
The Claremont deal is the latest follow-on acquisition for Healthcare Homes since its original management buy-in was completed in August 2005. Since that time, August Equity completed the £37 million transaction and led a further funding round of £30 million in May 2006. "This will help to consolidate the position of HHG as a leading provider of high-quality care," said Philip Rattle, a partner at August Equity, who sits on the board of HHG. "It also demonstrates the support that August Equity brings to its portfolio companies to ensure they realise their growth ambitions."