Essential reading for the healthcare business
Remember me:
Skip Navigation LinksHealthInvestor article
Patron Capital sells Gracewell Healthcare for £153m

Investment firm Patron Capital has sold portfolio company Gracewell Healthcare for £153 million to Sunrise Senior Living and Health Care REIT.

Health Care REIT (HCN), which owns the properties operated by Sunrise Senior Living either outright or as joint ventures, has acquired the 11 care home facilities run by Gracewell Healthcare. Meanwhile, Sunrise Senior Living has bought the Gracewell Healthcare management company.

Furthermore, Patron Capital will back its partners, and Gracewell’s founders, Tim Street and Daniel Kay on expanding the Gracewell business further with HCN and Sunrise Senior Living.

The agreement includes the rennovation of one community, completing 11 existing developments and the management of the pipeline of future projects, which aims to have five new properties opened per year.

Patron Capital managing director Keith Breslauer (pictured) said: “This transaction demonstrates both our development and operating expertise in creating a leading healthcare company. It is an industry we believe in and are committed to; Patron’s strategy is to invest a further £200 million in this asset class, in the care homes business, the healthcare industry in general, as well as our specialty care business, Badby Park.

HCN chief executive Tom DeRosa added: “This new partnership brings together the development expertise of the Gracewell team, the operating excellence of Sunrise, and the strategic capital of HCN. We are pleased to expand our relationship with our largest operating partner by building on our leading position in the highly attractive Greater London and southern England markets.”

Patron first invested in Gracewell Healthcare in 2010. The care home group consists of 767 units based in southern England aimed at the luxury end of the market.

HCN acquired Sunrise Senior Living’s real estate, a 20% stake in the management company and the majority stake in a number of the group’s joint venture deals in a $4.3 billion deal (£2.5 billion) in 2013.

Earlier this year the REIT increased its stake in the management company to 24%, while its partner, Revera acquired the remaining interest in the management company.

Related articles:

Posted on: 14/08/2014

Latest news stories

Less than half of the public are aware they can choose where they receive NHS-funded hospital treatment, according to a poll by Populus.
Anchor Hanover has appointed energy, services and regeneration provider Engie as a strategic delivery partner, in a 10-year deal worth £80 million.
Retirement living developer Birchgrove has launched a new rental-only retirement scheme in Sidcup, Southeast London.
The Care Quality Commission has rated domiciliary care provider The Good Care Group as outstanding across the five categories it uses to assess performance.
London-based health tech start-up Medbelle has secured just over $7 million (£5.4 million) in series A funding in a round led by signals Venture Capital.


HealthInvestor blog
With our politicians seemingly absent without leave, the UK desperately needs leadership in policy matters that influence investment decisions

Click here to view the HealthInvestor blog

Singapore’s Pan Pacific Hotel was the venue for HealthInvestor Asia’s February seminar on ‘Expansion strategies for ASEAN healthcare providers’.
A thespian and educator at home in a hazmat suit, with culinary prowess, an eye for improvement and a passion for caring for the elderly
In uncertain times, healthcare real estate remains a steady investment prospect. As the population ages and demand for modern care facilities continues to grow, Kenneth MacKenzie, founder and managing partner of Target Healthcare REIT, tells Marie Cahalane of the importance of a holistic approach to care delivery
Catherine Gooderham highlights some of the opportunities and challenges attracting various investors into a market with guaranteed funding – specialist care
Private equity-backed specialist provider Orbis Education & Care is proving popular with service users, families and commissioners by providing top-quality care in a challenging sector. Rob Munro talks to chief executive Mike Currier about what make this Welsh company such a success and its plans to expand into England

Click here to search all feature articles

Digital technology
The NHS App was supposed to be a gateway for patients to access primary care services and was seen as an opportunity for investors to engage with a health service eager to digitise. Things haven't quite gone to plan. HealthInvestor UK investigates
Read more

Christie + Co

my images


Blockchain is a disruptive force; its entry into the healthcare sector has been gradual, but has the potential to be transformational. Jeremy Bowden considers its implications and applications
Read more