CareChoice buys Dublin nursing home for more than €20m
Third acquisition by group since it was acquired by France-based investment fund
CareChoice chief executive Noel Boyle said the group would continue to grow its national footprint in certain areas.
Nursing home group CareChoice is to acquire a 124-bedroom nursing home in Dublin for a fee believed to be in excess of €20 million.
The acquisition of the Marlay in Rathfarnham will grow CareChoice’s total number of nursing homes to nine, providing 833 long-term residential care beds, and bring its total staff numbers to 1,100.
It will be the third acquisition by CareChoice since the company was acquired by French-based investment fund Infravia last year, a deal which was designed to help fund CareChoice’s growth plans.
The Marlay was described by CareChoice as a “modern, purpose-built facility”, which was established in 2006 and has a “strong reputation for high-quality care”.
CareChoice chief executive Noel Boyle said the group, which originally focused on the Munster region, would continue to grow its national footprint in certain areas.
“The CareChoice core focus is to become the leading provider of nursing home care in Ireland, by growing our national footprint in carefully selected areas, and by deploying leading technology innovations that adds value to our residents’ experience and enhances their engagement with their families and the wider community,” he said.
“The addition of the Marlay is an excellent fit to our growing portfolio and further demonstrates our focus to provide the highest quality of nursing home care in Ireland.
“Ireland needs a professionally managed and growing nursing home sector to meet the care needs of its ageing population, and CareChoice has taken a leadership position by responding to this need through a professionally managed and growing portfolio of high-quality nursing homes.”
Mr Boyle said the group would expand facilities at the nursing home to meet the needs of the elderly population.
“Our vision is to ensure that each of our residents enjoys a warm and caring home from home, where they are listened to, respected and supported in living a full life connected to family, friends and the wider community,” he said.
“We look forward to working with the Marlay to further expand its facilities and services, to meet the needs of the growing elderly population.”
Marlay chairman Declan Lernihan welcomed the acquisition. “We are delighted that the Marlay is now part of the CareChoice group of nursing homes,” he said.
“CareChoice is a progressive nursing home operator which is setting an extremely high standard of care in Ireland. We look forward to providing our residents the same excellent care and service as part of the wider CareChoice group.”
The group is currently building a nursing home in Swords that is scheduled to open next year. Aside from that, and Marlay, it has homes in Finglas and Northern Cross, Malahide in Dublin, as well as in Trim, Co Meath, Dungarvan, Co Waterford, and in Cork where it runs four homes in Montenotte, Macroom, Ballynoe and Clonakilty.
LK Shields and PwC advised CareChoice on the transaction.