HC-One Becomes Largest Provider in UK
It has been a few months since it was announced that Justin Hutchens would leave HCP, Inc. and join UK-based HC-One as its new CEO. That transition is expected to take place on October 1, and he will certainly have his hands full when he takes over from Chai Patel. HC-One just announced an agreement to acquire 122 senior care properties from Bupa Care Services, also based in the UK, for approximately £300 million, or $384 million. Over the past few months, the deal value was rumored to be in the £300 million to £450 million range, but that was for 150 properties, not the 122 that was agreed upon. Before this acquisition, HC-One was already the third-largest senior care provider in the UK,... Read More »Justin Hutchens a CEO Again
HCP, Inc. (NYSE: HCP) just announced that Justin Hutchens, elected president of the REIT in January, will be leaving to be CEO of HC-One, one of the largest care home providers in the United Kingdom with more than 300 properties. A little over two years ago, Formation Capital Safanad and Court Cavendish purchased healthcare property group NHP, which included the HC-One portfolio. Funding for that acquisition just happened to come from HCP, to the tune of about $630 million. In addition, it subsequently purchased 36 HC-One properties. So, HC-One and HCP are no strangers, and we believe that this did not come out of the blue, and that the HC-One investors decided that perhaps it was time to... Read More »Schedule a demo
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