Barchester loses interest in rival
Barchester had been expected to lodge a final bid for BetterCare ahead of the deadline for expression of interests at the end of the month. However, Barchester informed the current owners of BetterCare (venture capital giant 3i) last Wednesday it was no longer interested.
If it had been successful, Barchester would have had to fork out close to €130 million. It is believed that Barchester pulled out after a detailed study of the BetterCare business. It found that many of the nursing homes required extensive refurbishment and many of the properties were on very expenses long leases.
