Advisers: Kieran Regan, Partner at ReganWall, and Ronan Murray, Lead Financial Advisory Partner for Deloitte in Munster advised the Ditchley Group on the transaction.
Renatus Comment: Regulations in this space are likely to get tougher, particularly on space per patient and double rooms etc., and costs to comply with more stringent regulations are likely to come through as a result of Covid and the likely increased budget allocation to stay-at-home options.
However, in spite of all of this, the market size is unlikely to shrink.
Ireland has an aging population and it is predicted by the CSO that those aged 65 and over will increase significantly from c. 630k as of 2016 to c. 1.6m by 2051.
There has been transactional activity in the space this year with the French Nursing Care giant, Orpea Groupe, acquiring TLC Nursing Home portfolio for an estimated €150m. It has also been reported that the Orpea Groupe are interested in buying 50% of Brindley Healthcare, a chain of 10 homes.
Source: The Irish Examiner, BlackBee