Homecare Independent Living, one of Ireland’s largest home care providers, has cut ties with Allied Healthcare after completing a management buyout of a stake it held with the firm.
The company has not disclosed any of the financial details or arrangements of the deal with Allied Healthcare, which was saved from bankruptcy by privately owned firm CRG Healthcare last month.
“We have been in negotiations to complete this deal for over two years and are very satisfied with the outcome,” Mairead Mackle, founder and chief executive of Homecare, told The Times.
“As always, we will continue to remain focused on our business, our people and our clients.”
Allied Healthcare acquired a 50.1% stake in Homecare for £3.9 million in May 2010.
The acquisition gave Allied Healthcare a presence in Northern Ireland and the Republic of Ireland, both of which were new territories for the company at the time.
Founded in 1995, Homecare provides home help for the old and sick, and support services for vulnerable families and those who are at risk of homelessness.
The buyout comes after the CQC raised concerns that Allied Healthcare might not be able to operate after November 30.
The regulator said the company had not given “adequate assurance” of funding past this date and warned of a credible risk of disruption to services.
CRG Healthcare, which deals with home, health and social care alongside education staffing, acquired the business with the intention to continue to provide a “stable and supportive environment” for all carers and offer an “unrivalled continuity of care” for service users.
“The Allied Healthcare name will not change – it’s very much business as usual,” Ian Munro, CRG chief executive said at the time.