Residential care home operator, Aperee, has announced its second acquisition with the completion of a transaction to acquire Cúil Didín Nursing Home in Tralee, Co. Kerry, a 64 bed home, for an undisclosed sum.
Aperee CEO, Paul Kingston said it is the second of a number of acquisitions of top quality existing homes Aperee aims to acquire in the next 12 to 18 months.
Aperee was recently established as the operational arm of the Blackbee Healthcare Fund. The Blackbee Group launched the new healthcare investment fund, which will result in the creation of Ireland’s largest residential care group. The fund is seeking to raise €250m to invest in the acquisition and development of state-of-the-art care homes, with the money being targeted from both institutional and professional private investors. Blackbee Group is headquartered in Cork.
Mr Kingston said: “We are interested in acquiring homes who have an excellent reputation of care and the home itself is modern and has a capacity to expand, Cúil Didín meets all these requirements and we look forward to continuing the excellent care provided under the stewardship of Caitriona. We also look forward to continuing to serve the needs of our residents in Cúil Didín, ably led by Director of Nursing, Caitriona O’Connor and her team.”
Catriona O’Connor, Proprietor/Director of Care said: “We are delighted that an experienced sector professional team like Aperee, who share our care ethos, led by Paul Kingston who has 20 plus years experience in the sector, has acquired our Home and have no doubt they will continue the same ethos of care we have delivered over the previous 16 years.”
Aperee recently announced its first acquisition with the completion of a transaction to acquire Padre Pio Nursing Home in Churchtown, Mallow, Co. Cork, a 52 bed home, for an undisclosed sum.
The BlackBee Healthcare Fund will initially see the construction of 600 new state of the art single ensuite beds and the acquisition of 1,100 existing beds. Over 1,000 new jobs will be created, 1,500 existing jobs will be sustained and a further 800 will be supported, under these plans, during construction. A number of target sites and existing homes have already been identified.
BlackBee Group sees this as an investment that will set new care standards, offers transformative social impact, whilst simultaneously driving the economy.