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Druces Private Wealth

Healthcare

In recent years, the growth in the health and care sector, combined with the UK’s ageing population, has helped to maintain the attractiveness of healthcare businesses to operators, investors and lenders. However, with growth has also come new and more complex regulation, which has been constantly evolving in recent years. On top of this, the impact of the Covid-19 pandemic and new funding arrangements announced in 2021 create a complex picture; expert advice is key.

Druces’ healthcare group is made up of experienced individuals from our Corporate & Commercial, Dispute Resolution, Property, Restructuring and Insolvency teams. Over the years, our lawyers have acted for many operators, owners, investors, banks and other lenders in the sector. In particular, our Corporate team has handled many acquisitions and disposals of healthcare businesses and interests.

Our clients include a number of banks and financial institutions, funds, corporate and commercial providers, medical charities, pharmaceuticals companies, medical suppliers and manufacturers, owners, investors and insolvency practitioners.

Legal 500

Health and social care is a primary sector for our firm and has become a key specialism. That has been recognised by Legal 500: ‘the team has particular expertise in [advising clients who are] buying, selling and investing in healthcare assets, a sector in which the firm has built a strong reputation’ and our ‘strong track record for handling restructuring and administration in the care sector’.

Recent work

We advised OxStem Limited on its £16.9m financing. OxStem Limited is an Oxford University spin-out and this transaction is believed to be the largest known funding in the UK for a new University spin-out.
We advised on the £35m acquisition of a group of 12 care homes in the North East.
We advised Pickstock Group on the £7.1m sale of 75-bed St Martin’s Grange Care Home to Blackrock, one of the world’s pre-eminent asset management firms.
We advised on the restructure of a portfolio of 24 leasehold care homes assets spread throughout England and Wales and their sale to a major national operator.
We acted for a healthcare group in connection with the restructuring of £30m+ of existing finance facilities, including a revolving credit facility, term loan, overdraft and hedging facilities.

Who to Contact

CHRISTOPHER AXFORD

Head of Corporate, Corporate & Commercial

Christopher is the Head of Corporate and is a member of Druces Executive Committee which manages the firm’s direction and vision for the future. He deals with a broad range of corporate and commercial matters, including AIM and AQSE work, national and international joint ventures and group restructuring.

CLAIRE RIGBY

Senior Associate, Corporate & Commercial

Claire is a Senior Associate in Druces LLP’s Corporate and Commercial team. Claire read History at the University of Southampton and joined Druces LLP as a Trainee Solicitor in October 2011, qualifying in October 2013. She deals with a broad range of corporate and commercial matters, including mergers and acquisitions, corporate re-organisations as well as advising on a range of property and acquisition finance transactions.