Hammonds LLP advises on circa £281m recommended takeover offer for Care UK plc

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    Hammonds LLP has advised Care UK plc on the recommended takeover offer by Bridgepoint of the company. The offer was announced on 3 March 2010. The takeover has been structured by way of scheme of arrangement and is subject to shareholder and certain other approvals.

    The offer price of 450 pence per share values the company at circa £281 million.

    Care UK is a leading independent provider of health care and social care services. Working in close partnership with local authorities, primary care trusts and strategic health authorities, the company draws on over 25 years of experience to provide tailor-made service solutions, including residential, community, specialist, primary and secondary care. The Care UK Group is the largest operator by patient volumes of independent sector treatment centres in the UK.

    Care UK has been a client of Hammonds since 2005 and the firm has acted on several corporate mandates for the company since then (including the acquisition of Mercury Health in 2007 and the acquisition of the remainder of the Partnership Health Group in 2008). The Hammonds healthcare team has also advised Care UK on a number of second wave elective treatment schemes.

    Care UK relationship partner, Trevor Ingle, and corporate takeover partner, Giles Distin, led the Hammonds team, with assistance, amongst others, from Robert Shakespeare and Mark Yeo (corporate), Diarmuid Ryan (competition partner) and Sarah Nicholson (share options).

    Trevor Ingle commented: "We were delighted to be able to assist Care UK on this transaction. Our healthcare team continues to experience high levels of activity across a broad range of disciplines within the healthcare sector. As this deal is testament, we are also noticing a discernable up turn in activity amongst private equity bidders for the right companies in the right space."

    Care UK's financial advisers were Investec Investment Banking.

    Bridgepoint was advised by Clifford Chance (Lee Coney and Kem Ihenaco).

    Bridgepoint's financial advisers were NM Rothschild & Sons.

    The management team of Care UK was advised by Lovells (Alan Greenough and Guy Potel) and Jones Day (James Goold and Leon Ferera).

    For further information contact: Samantha Rey, Communications Manager for Hammonds LLP, on 020 76551397 or email: samantha.rey@hammonds.com

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