Litigation issue threatens to derail care home purchase
With advances in health care, medication and nutrition British people are living longer than ever. With this growth in our elderly population comes a rising need for nursing and residential care homes, particularly in south east England. However, since the inception of the Care Standards Act in 2002 tighter regulations have seen the closure of many care homes, which has led to a shortage of beds.
This all means that, despite the economic downturn, the care home sector remains in a healthy state. There are stringent staffing, training and premises regulations that must be observed, but all else being well, any purchaser entering this sector can expect a thriving business.
Gaby Hardwicke has a specialist team of lawyers with specific knowledge and experience of working with healthcare businesses such as care homes, doctors' practices and dental practices. This includes sales and purchases as well as legal matters arising from the running of such businesses.
In our latest Case Study, Corporate Partner Mark Williams recalls a recent case in which the purchase of a care home with a price in excess of £2 million was nearly derailed when a significant piece of litigation was uncovered.
Read our Litigation Risk Uncovered in Due Diligence Case Study for an outline of the action we took. Please bear in mind, however, that the finer points of these types of purchases can differ greatly. If you’re involved in a similar matter, you should contact a specialist solicitor for advice tailored to your situation.
Email Mark Williams or call him on 01323 435 900 for expert advice on the sale or purchase of any healthcare business.
Posted: 24 October 2012
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