Alchemy has contracted to sell the Four Seasons Health Care group to Allianz Capital Partners for a total consideration of 775 million pounds (over 1.15 billion euros).

The Four Seasons Health Care group consists of Four Seasons Health Care Limited, one of the largest independent providers of care services in the United Kingdom, and Principal Healthcare Finance Holdings (Guernsey) Ltd.

The sale is conditional only on EU merger clearance.

Allianz Capital Partners was advised by Dresdner Kleinwort Wasserstein.

Allianz Capital Partners expects the demand for care home facilities and services to continue to grow, based on the demographic development.

"We want to develop the business concept further", says Stefan Sanne, managing director of Allianz Capital Partners. "In a few years' time, we will consider an IPO for Four Seasons Health Care."

Four Seasons Health Care is the largest privately owned, for-profit participant in the UK care home market, operating approximately 300 care homes and approximately 14,600 beds.

In addition, Four Seasons Health Care operates 13 specialist facilities mainly for adolescents with eating disorders or mental health problems, and leases more than 83 care home properties to third parties.

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