HC-One to receive £100million investment
BRITAIN'S third largest care home operator HC-One is to receive an investment of £100 million from its private equity owners.
Formation Capital, Safanad and Court Cavendish will pump the cash into refurbishments across its 275-home portfolio.
The homes will be transformed to incorporate hair and beauty salons, games, reminiscence and garden rooms.
HC-One's chairman Dr Chai Patel said: "This is a major and significant investment that will upgrade our homes to the next level, creating the best care experience in our sector."
HC-One was created when Southern Cross went bust in 2011 and its care homes were sold off.
It houses about 10,000 residents and employs more than 14,000 staff.
Property giant NHP sold HC-One last year for around £500 million, a deal which saw Patel net a reported £5 million.
