Nursing home group Carechoice has bought a 60-bedroom facility in Co Cork 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 Tuesday that it has bought Brookfield Care Centre, a 63-bedroom nursing home in Leamlara, to the east of Cork city, bringing the number of facilities it has in the Republic's biggest county to six.
Carechoice did not reveal the price, however, based on previous deals done by the chain, it is understood that the transaction could be valued at about €10 million.
The deal brings to 14 the number of nursing homes owned by Carechoice, leaving it with more than 1,300 long-term residential care beds and a total workforce of about 1,600, the company said.
Brookfield is a purpose-built private nursing home on a 3.75-acre site in east Co Cork.
Expanding
Gerry Moore, Carechoice chief executive, said that the home was an ideal fit with the group.
“The acquisition further underlines the Carechoice strategy of expanding our footprint in carefully selected locations, through organic growth and acquisition and positions Carechoice as Ireland’s leading nursing home operator,” he added.
Clodagh Drennan, director of Brookfield Care Centre, noted that her family had run the home since 2003.
She stressed that staff there, led by Donal Cahalane, would continue to care for residents to the highest standards.
“We are delighted that Brookfield Care Centre Nursing Home is joining the Carechoice nursing home group,” Ms Drennan said.
Towerview acted as financial adviser to Carechoice on the transaction while O’Flynn Exhams was legal counsel. BDM Boylan was Brookfield’s legal advisor.
