CARE home business Helen McArdle Care has announced the sale of its 22 care homes in the region to a London company in a deal worth £100m.
The acquisition of the business by elderly care provider Bondcare will see the London company take on £21m of debt and two homes that are under construction.
The sale of the North-East care home group was completed with help from law firm Dickinson Dees and property consultants GLP. The deal will bring to an end the McArdle family's involvement with homes for the elderly, which began when Helen McArdle opened her first residential premises in Durham in 1987.
Since then, the business has established a network of care homes throughout the region.
Most of the management structure will remain in place under the new owners, as will the staff development programme.
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