AMP Capital, on behalf of investors in its Global Infrastructure Equity strategy, today announces that it has made a further investment in the UK specialist care sector by acquiring Care Management Group (CMG). This follows AMP Capital’s first investment into the UK health and social care sector, the acquisition of The Regard Group (Regard) in January 2018.
CMG provides residential and supported living services for adults with learning difficulties and mental health conditions, with 189 services across England and Wales.
CMG has a strong track record of providing high quality care to its service users, demonstrated through its Care Quality Commission ratings of 98% ‘Good’ or ‘Outstanding’. This commitment to high quality care aligns its approach with Regard, which has received 98% ‘Good’ or ‘Outstanding’ ratings.
Ruben Bhagobati, Partner at AMP Capital, said: “Our investment in CMG is consistent with our strategy of investing in essential services and complementary with our prior investment in Regard, particularly the emphasis on high quality care provision and a culture of supporting service users.
“We will continue to target opportunities for growth, including the development of new services where they are needed by individuals and communities, and offering staff an increased range of career development pathways.
“There continues to be significant demand for investment in UK health and social care. AMP Capital’s approach to infrastructure, established track record of responsible investment and strong ESG commitment underpins our focus on this important sector.”
AMP Capital has acquired 100% of CMG.
Dr Chai Patel, CBE, FRCP, Chairman of CMG’s former owners Court Cavendish, said: “I am delighted that AMP Capital have acquired Care Management Group. They share our deep commitment to service users and the value in developing and investing in our staff. I am immensely proud of the turnaround of CMG: in large measure it is a credit to the leadership and all the valued colleagues in the organisation. I wish you all well on your new journey ahead.”
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