Nursing home group Carechoice has bought a 60-bedroom facility in Co Kildare in a deal thought to be worth about €10 million.
Carechoice owns and runs nursing homes around the Republic, including in counties Dublin, Cork, Meath and Waterford.
The company confirmed on Thursday that it has bought Elm Hall nursing home and retirement village, a 60-bedroom facility in Celbridge, Co Kildare, boosting its presence in the region around Dublin to seven properties.
Carechoice did not reveal the price, however, based on previous deals done by the chain in the capital, the transaction is likely to have been valued at about €10 million.
The acquisition of Elm Hall brings to 13 the number of nursing homes owned by Carechoice. The move means the group will have more than 1,200 long-term residential care beds across Dublin, Cork, Meath, Kildare and Waterford. Its workforce will stand at 1,500 once the deal is completed.
Elm Hall is a purpose-built facility on 3 hectares (7.5 acres), which house a social centre, 26 one-bedroom bungalows and two two-bedroom homes.
Leading operator
Gerry Moore, Carechoice chief executive, said that the deal added to the company's position as the Republic's leading nursing home operator.
He added that it underlined Carechoice’s strategy of expanding through acquisitions and growing its existing businesses.
"We look forward to working with Elm Hall nursing home to enhance further its excellent reputation in meeting the needs of the local older people requiring nursing home care," Mr Moore said.
John and Clíodhna Martin, directors of Hibernia Senior Living, which runs the Kildare home, welcomed the news. They noted that Carechoice set an “extremely high standard of care”.
Towerview acted as financial adviser and Mason Hayes and Curran acted as legal counsel to Carechoice on the transaction.
Focus Capital Partners acted as financial adviser and Branigan Cosgrove Finnegan acted as legal counsel to the shareholders of Elm Hall nursing home.
