The Montreux Healthcare Fund has completed the acquisition of Christchurch Group, previously ‘Project Lyra’. The market leading neuro-rehabilitation business will add £3.6m EBITDA to the fund’s portfolio with capacity of 136 beds. Headquartered in Northampton, the business comprises 10 facilities with 98% of the beds being freehold.
The Christchurch Group services are Headway accredited, the only provider in the country to receive this accolade across all of its sites, with all facilities expected to be rated Good or Outstanding by the Care Quality Commission.
The business will aim to deliver considerable value to the wider group, with several key staff retained at a senior level. The acquisition offers the opportunity to drive forward occupancy and offers plans for expansion of 22 additional organic beds in the medium term.
Oliver Harris, CEO, Montreux Capital Management (UK) stated: “The Christchurch Group acquisition is a step forward in the Montreux Healthcare Fund’s strategy, providing 136 high quality care beds with further expansion planned in the medium term. My team and I have worked hard to secure this acquisition in a short time frame and believe this will deliver good value to our investors.”