InfraVia invests in nursing homes with acquisition of Carechoice in Ireland

2nd June 2017 | By | Reply More

InfraVia today announces the acquisition by InfraVia European Fund III of Carechoice, the second largest private owner and operator of nursing homes in Ireland.

 

Carechoice currently operates six nursing homes across Ireland (in Dublin, Cork and Waterford), providing over 500 high quality of care beds for elderly. With the growing need for long-term residential care in Ireland, Carechoice plans to expand significantly its capacity over the coming years, notably through the development of new nursing homes in the Dublin area, the extension of its existing homes as well as the potential acquisition of other high-quality nursing homes.

 

Paul Kingston will continue as Chief Executive Officer of Carechoice, and the new Board will include two of Ireland’s leading health sector experts, Jimmy Tolan and Fergus Clancy. Jimmy Tolan has been Chairman of Carechoice for the past two years and is a former CEO of Vhi Healthcare. Fergus Clancy is a former CEO and Chairman of the Mater Private Group and has been an advisor or active member to numerous healthcare institutions in Ireland.

 

“We believe Carechoice is an excellent platform to create a leading private provider of long term elderly care in Ireland” declares Vincent Levita, Founder and Chief Executive Officer of InfraVia. “With its solid reputation for quality of care, Carechoice is very well positioned to address the significant need for additional nursing bed capacity. We look forward to working with Carechoice as a long-term partner and establishing Carechoice as a leading player in the nursing home market”.

 

Commenting on the transaction the Chief Executive of Carechoice, Paul Kingston, said: “This is a great development for Carechoice and the residents we are privileged to care for. Having InfraVia as the new owner will allow us to significantly expand the business to meet the needs of high-quality of care for Ireland ageing population.”

 

Investec (financial), LK Shields (legal) and PwC (commercial, accounting and tax) advised InfraVia on the transaction.

 

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Category: Acquisitions in care, Care group news

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