Our experienced health and social care solicitors can advise health and social care providers on all aspects of buying and selling care homes and can support them through the process from a legal perspective.
The buying and selling of care homes is a complex process and can involve the care home itself, together with the goodwill of the business and the equipment. At Anthony Collins Solicitors, our specialist health and social care team have extensive experience in advising on the buying and selling of care homes, along with shareholder agreements and all aspects of partnerships.
Typically, the process will begin with Heads of Terms being signed, which are effectively are a summary of the key points agreed about the sale. Following the Heads of Terms being signed, we work with our clients to carry out the due diligence process to highlight any areas of concern which could lead to renegotiation of the price or negotiations to be ceased altogether.
We work with health and social care providers to ensure thorough due diligence has been carried out about the buying and selling of care homes. This can include, reviewing title and carrying out searches on the properties, reviewing residents' contracts, block contracts with local authorities, registration, regulatory and inspection issues and employee issues.
Buyers need to be aware of any matters which may affect the property, such as restrictive covenants, planning permissions and environmental issues. If any of the properties are leasehold, the terms of the lease should be carefully reviewed. It is crucial that buyers are fully aware of any issues before completing the transaction to ensure they can run the care home in accordance with their business plan.
How we can help you with the buying and selling of care homes
Our experienced health and social care team work in partnership with health and social care providers to support them through the process of the buying and selling of care homes from agreeing on terms to completion, including:
- Preparing Heads of Terms.
- Assisting you with the due diligence process.
- Preparing share purchase or asset purchase agreements.
- Advising on the transfer of employees.
- Advising on the transfer of care home premises.
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We have been recognised for the work we do
The recent Competition and Markets Authority’s (CMA) final guidance on care home contracts clearly presents a challenge – it is almost certain that providers will need to revise their contracts.
The Competition and Markets Authority (CMA) has published its final advice to help care homes understand their wider obligations to residents, and prospective residents, under consumer law.
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