Law firm Stephenson Harwood LLP has successfully represented HC-One in securing merger clearance from the UK Competition and Markets Authority (CMA) for HC-One's acquisition of 122 care homes from Bupa, the international healthcare group.
The deal, which completed on 14 December 2017, is an important step for HC-One, a provider of health and social care in the UK, to strategically expand its services across the UK, while providing the best and kindest care.
The acquisition involved significant and complex merger control aspects and was the first care homes acquisition in the UK since 2011 to require UK merger clearance. The acquisition was undertaken against the background of the CMA's care homes sector market study (which only recently concluded) and involved a bespoke version of a 'fix it first' remedy ahead of notification to the CMA. The deal received unconditional Phase 1 merger clearance from the CMA on 13 December 2017.
“We were delighted to be instructed. This is a strategically significant transaction for HC-One and we were extremely pleased to have been able to secure CMA approval for the parties well before the Phase 1 clock expired, and at a time when the sector is under close scrutiny by the CMA," said Marta Isabel Garcia, partner, Stephenson Harwood. "This transaction demonstrates our competition law capabilities to support clients in the healthcare sector on market leading deals."
“Stephenson Harwood was very effective in securing unconditional Phase 1 CMA clearance on a tight deal timetable which was a great result for the transaction," said David Smith, Finance Director, HC-One.
The Stephenson Harwood team was led by partner Marta Isabel Garcia, Head of Competition, who was supported by associates Anna Victoria Delahey, Rhiannon Davies and Simon Albert.
Stephenson Harwood has a dedicated cross practice healthcare team, which draws experience from members across its network of offices in Europe, Asia and the Middle East. The team was named 'Legal Advisor of the Year' in the Private category at the HealthInvestor Awards 2017, in recognition of its commitment and high-quality client support.
