CareTrust REIT, Inc., headquartered in San Clemente, CA, will acquire Care REIT plc for 108 pence in cash per ordinary share. The deal is valued at US$817 million, including the assumption of debt.
Formerly known as Impact Healthcare REIT plc, UK-based Care REIT has built a portfolio of 137 senior care homes, comprising approximately 7,500 operating beds leased to 15 operators across England, Scotland and Northern Ireland. CareTrust intends to fuel growth by deepening relationships with Care REIT’s existing operators, supporting existing development projects and expanding the pipeline of new investments, along with building relationships with other operators.
“We have been following the UK for some time looking for the right entry point,” said CareTrust president and CEO Dave Sedgwick. “We believe we have found it in the Care REIT platform, which has assembled what we consider to be an excellent, diversified portfolio of UK assets and operator partnerships. We look forward to combining the Care REIT platform with our own and expanding our mission of growing with great operators in the UK.”
Piper Sandler Ltd is acting as sole financial advisor and Jones Day is acting as legal advisor to CareTrust. The acquisition is expected to close in the second quarter of 2025.
Pictured: Care REIT’s Birchlands Nursing Home near York, England.
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