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UK — Private equity firm ups offer for Care UK

17 December 2009

Private equity group Bridgepoint is believed to have approached some of the biggest shareholders in Care UK (CUK:LSE), the providers of health and social care solutions, and been told they would support a deal at its improved offer price of 450 Pence to 500 Pence, The Financial Times reports.

The approach comes less than three months after a previous offer by Bridgepoint has been rejected. It also shows the increased interest from private equity firms in health care deals.


Bridgepoint already has health care investments in Terveystalo Healthcare of Finland and Clinical Solutions, the software provider to NHS Direct.

Care UK has an annual turnover of 340 million Pounds and has been shifting away from local authority funded patients to private customers.
 
In early trading Care UK shares were up by 7.25% to 407 Pence.