Healthcare rivals seek to buy out Trinity

Takeover negotiations between BetterCare, the Belfast-based healthcare provider, and Trinity Care, its publicly listed rival in the UK, have been suspended.

BetterCare launched a takeover bid for Trinity Care late last year in a move which could have created a new £70 million sterling (€114 million) healthcare giant.

The move would also have given the privately-owned Belfast group the opportunity to obtain a listing.

Discussions between the two parties have been suspended because Trinity Care has entered into talks with Southern Cross, another rival UK healthcare provider.

Southern Cross has a 16.49 per cent stake in Trinity Care but Trinity has warned that, if no offer is forthcoming from the current talks "within a reasonable period of time", negotiations will be abandoned.

BetterCare, one of the largest healthcare providers in Northern Ireland, has up to 30 nursing homes across the North and Britain.

The company aims to deliver a high level of medical care in a home setting.

Bettercare is well known through the sector for its care centres, which are purpose designed and built to meet the UK National Required Standards for residential and nursing homes for older people.

Trinity Care operates residential nursing homes and through its subsidiary, Christian Projects, is involved in the development of residential nursing homes and independent assisted-living units for sale.

The group has now been in an offer situation for 11 months but it has said that it believes there is a "reasonable prospect of a satisfactory outcome being achieved" from the discussions which are currently ongoing.