Bupa’s Board Meeting. Care Homes are to be put up for sale

Following a meeting of Bupa’s Board in September around 200 of their 290 care homes are to be put up for sale with Knight Frank appointed to run the auction process.

It is reported that as part of the move the care homes division will be split into two parts, called Lifestyle and Partnership. Once the sale is complete over 20,000 staff will transfer from Bupa to the new owner.

For the six months ended 30 June 2015, underlying profits at Bupa’s whole UK business fell by 10% to £55.4 million compared to £61.3 million for the same period last year.

It has also been recently reported in the press that the private healthcare firm has hired KPMG to sell its domiciliary care division.

Source: http://www.healthinvestor.co.uk