3i sells UK BetterCare Group for £116m to Four Seasons Health Care

BetterCare Group comprises a private acute hospital and 26 care homes providing nursing care to older people and specialist nursing care to younger adults with complex healthcare needs.

Four Seasons itself was acquired last year by Allianz Capital Partners from UK private equity group Alchemy. This deal is the latest in the whirligig consolidation of the healthcare sector in the UK that has featured considerable involvement from the private equity community.

3i focuses on buy-outs, growth capital and venture capital. This has been a very busy year for the firm so far, both in terms of exits and in terms of acquisitions.

Last month 3i signed an agreement to acquire Nordic healthcare services company Carema Vård och Omsorg AB for an undisclosed amount and backed two management buy-outs, the first one being the €86m MBO of manufacturer Wendt and the second one the £90m MBO of specialist care provider Care Principles. In February 3i sold a stake in Travelex to Apax Partners.

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