Richmond currently owns and operates five care villages in England which are home to over 660 people. The deal also includes three further sites for developing new care villages.
Care village sector
The five villages – in Gloucester, Northamptonshire, Warwickshire, Cheshire, and Oxfordshire – include independent-living apartments and assisted-living support, along with residential care, all on one site.
Managing director of Bupa Care Services, Andrew Cannon, said: “This acquisition underlines Bupa’s strategy to offer older people a wider choice and expand the range of services that we provide beyond care homes and further into the community. Richmond is an excellent company, with great people, and good locations, that will help us to meet these ambitions.
“We all want to retain our independence as we age. But we also want access to high-quality services and facilities, with the reassurance that further support is on hand if we need it, without having to move elsewhere. Care villages provide this all on one site.”
Under the deal, all existing 600 Richmond staff and management will move to Bupa.
Richmond Care Villages managing director, Paddy Brice, said: “I am delighted that Richmond is to become part of Bupa – one of the best known and most trusted names in healthcare. We both share a commitment to providing the highest-quality service, care and support for our residents.
“I believe this move will greatly assist Richmond’s future expansion , allow us all to share expertise, and bring the benefits of Bupa’s global reach to our people.”
Bupa also manages a number of independent -living and assisted-living properties in the UK through its Goldsborough Estates business, as well as owning and operating 22 care villages in New Zealand.
Bupa was advised during the transaction by Addleshaw Goddard LLP, EY, and Colliers International Healthcare.