UK - Bridgepoint sweetens takeover offer for Care UK

The revised offer comes after the private equity firm's original unsolicited bid of 377 pence was outrightly rejected in October. The company's share price was up by almost 30 pence to 379.5 pence at close on Wednesday.

Reports suggest that Care UK's shareholders are likely to support the new bid for the company.

Care UK operates 50 nursing homes, three GP practices, four NHS walk-in centres, ten NHS treatment centres and a host of mental health centres. Last year, the business had EBITDA of £48.2m, with an annual turnover of £340m.

Potential bolt-on healthcare deals are proving popular for private equity. Since August Equity's initial £20m buy-out of home care operator Enara in 2008, the company has made 18 acquisitions. In September, Sovereign Capital backed the £18m buyout of London Care plc, one of the largest domiciliary care businesses in the UK, committing a total of £25m to London Care to help fund a buy and build strategy for the company.

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