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Weekly News Wire | December 20, 2004

Largest British Nursing Home Group Sold for $1.06 Billion

December 20, 2004 Largest British Nursing Home Group Sold for $1.06 Billion The board of Nursing Home Properties (NHP), the United Kingdom's largest owner of residential care homes, announced November 30, 2004, that it has agreed to a $1.06 billion (£560 million) takeover offer from private equity group Blackstone. Blackstone will acquire a property estate of 355 homes, with more than 17,500 beds, as well as NHP's care business Highfield Care, which runs nearly half of the group's homes. Blackstone purchased NHP to expand Southern Cross Healthcare Ltd., a U.K. nursing home operator . . .

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