Private equity firm Palatine has acquired a majority stake in Routes Healthcare, a complex care at home provider operating in the North of England.
Headquartered in Cheshire, Routes Healthcare operates from 14 service centres, employing 120 operational and management staff, along with 1,000 carers.
The company’s management team, which will remain in the business following the deal, will work closely with Palatine to realise the next stages of its development plan.
Jackie Lindsay, CEO at Routes Healthcare, said: “Palatine felt like a perfect fit for Routes from the very first meeting. We were immediately talking the same language; with our joint commitment to and understanding of the healthcare sector and passion for ESG. To find an investment partner with such naturally aligned values is fantastic.
“High-quality person-centric healthcare, enabling people to live the lives they want in the place they choose to be, is core to Routes values. This fresh partnership with Palatine will allow us to take the next steps along the route to delivering this vision.”
Tom Wildig, Investment Director at Palatine, said, “We have been hugely impressed with what Jackie and the team at Routes have achieved over the last two years and are excited to work with them to deliver their plan. The vastly experienced team, robust centralised processes, governance and infrastructure render it ideally suited to organic expansion through opening new sites as well as selected M&A.
“As NHS and local authority procurement of community and home-based services evolves, with the transition to integrated care systems, Routes’ ability to rapidly deliver flexible, scalable packages across the acuity spectrum makes it well-placed to continue on its rapid growth trajectory.”
Key Capital Partners invested in Routes in 2016, and along with founder Andrew Healing, will retain a minority stake.