The Montreux Healthcare Fund now owns the ninth largest care group in the UK following the merger of two of its companies.
The ACH Group, which operated 25 residential services in England, last month merged with The Regard Partnership which provides learning disability, brain injury, and mental healthcare.
The Regard Partnership, headed by chief executive officer Sandie Foxall-Smith, provides care and support for more than 1,000 people making the company the fourth largest UK care group offering specialist learning disability and mental health care.
A Montreux investment vehicle acquired ACH Group in April 2014 for GBP40.5 million. Six months later, the Montreux Healthcare Fund bought The Regard Partnership for GBP119.5 million.
The Isle of Man-domiciled Montreux Healthcare Fund is advised by Montreux Capital Management (UK) which oversees more than GBP200 million worth of assets.
Montreux Capital Management’s managing partner Oliver Harris says the merger represented the next operational step to add value to the Montreux Healthcare Fund, which has returned over 50 per cent in one share class since launching in 2014.
“Since the merger we have had The Regard Partnership valued by a leading global Royal Institute of Chartered Surveyors-accredited valuer at GBP202 million,” says Harris. “For us this is confirmation that the specialist care market continues its strong growth trend, and remains a real attraction to investors.
“We are continuing to offer high-quality care to service users as this is at the core of everything we do. Moreover, a number of further opportunities for the Montreux Healthcare Fund are already being actively explored.”