The Health Protection (Coronavirus, Restrictions)(Self-Isolation)(England) Regulations 2020 The ...
Health and Social Care update throughout Covid-19
Birkett Long has continued to support and assist a wide range of clients within the health and social care sector during the Covid-19 pandemic.
Whilst Covid-19 has caused an undoubted downturn in the economy, many continue to see opportunities and are expanding either through acquisitions or venturing into new markets.
Most strikingly, we continue to see development within the private health care market, with national providers continuing to grow and acquire smaller independent care homes. This has however been tempered by some restructuring of larger care home providers. It seems a number of large care home providers had overstretched themselves in recent years, becoming more and more heavily leveraged to private equity providers. This made it harder for them to manage their debt obligations as Local Authority rates continue to reduce.
Two particular health care providing clients of Birkett Long have benefited from these restructures. In the past 12 months, we have worked on seven acquisitions where our clients have had the opportunity to grow their portfolio of care homes as competitors reorganise.
Our clients in this area range from large national providers of health care services, to smaller independent providers of bespoke services. Picking up pharmacies, GP surgeries and the like along the way.
Our Health and Social Care team, which straddles the Business Team, Commercial Real Estate, Employment and Private Client departments, means we are able to tailor our services to the requirements of each individual client as necessary.
We have also worked closely with a number of GP surgeries in the last year. A highlight of this work was the merger of three GP practices.
The Commercial Real Estate Team dealt with the property matters whilst our Business Team oversaw the merger agreement. Also, our Dispute Resolution Team dealt with an outstanding issue relating to overdue service charges. A great example of collaborative working amongst the departments.
To conclude, the team has a wide breadth of experience in this sector. We can provide timely commercial advice, no matter the size of the problem you are faced with. Perhaps this is best summed up by one of our clients:
“Once again thank you for all of your help and guidance. We cannot praise you and your team highly enough. The level of service was excellent, you were approachable, helpful and considerate to our lack of knowledge in dealing with such a transaction”