Our client was a wholly owned subsidiary of a large care home operator.
Our client wished to purchase one of two separate care home businesses from another subsidiary of that operator which had gone into administration.
The sale would be via a “pre-packaged” purchase, and two members of a national accountancy firm were appointed as the administrators of the seller.
For this fast-paced transaction to go through, the client needed specialist advisors with an in-depth understanding of insolvency law and the many nuances of these types of transactions.
Care homes need particular legal support due to the need to adhere to Care Quality Commission (CQC) regulations on top of what’s required for a more ‘standard’ business purchase. Our healthcare team were ideally placed to advise in this scenario and set to work on processing the acquisition.
The assets of the business – including its staff – needed to be transferred to the new company. Special regulations called Transfer of Undertakings (Protection of Employment) had to be followed too, which our Healthcare team had the knowledge and experience to support the business and its employees with.
As a team of experienced solicitors with significant knowledge of this sector, we pushed the transaction through ahead of the deadline – no small feat due to the tight timeframe.
We successfully managed the complex transfer of the employees to the new company, minimising the impact on the staff by maintaining a continuity of employment for them and ensuring continuity of care for the home’s residents too.