Balhousie Care Group has been sold to an international healthcare firm in a multi-million pound deal.
The company’s 25 care homes include three in Aberdeenshire: Alastrean, in Tarland; and two close to each other in Huntly – Balhousie Huntly and Balhousie Milton Mews.
Entrepreneur and philanthropist Tony Banks had 100% ownership of the business and will retain a minority stake following the undisclosed investment by international healthcare group AcalisCare.
Near £50m-a-year business
Perth-based Balhousie was started by Mr Banks 30 years ago with the purchase of a care home in Kirriemuir.
It now has about 1,400 employees and nearly 1,000 residents in 26 care facilities, across six regions of Scotland.
The holding company reported pre-tax profits of £8.3 million and turnover of £47.6m for the year to September 2021.
Covid controversy
Balhousie hit the headlines earlier this year when it revealed a “no Covid jab, no job” policy for new recruits.
The firm had previously attributed 41 deaths in its care homes to the coronavirus.
Announcing his exit from the business, Mr Banks said: “I am extremely proud of what the group and the brand has become, which is a highly respected player in the care sector.
“It was hugely important to me that any investment partner we worked with shared Balhousie’s values and aspirations, and I believe AcalisCare does.”
He added: “This is the start of an exciting new growth and investment phase for the business, for our staff and for residents.
“It will ensure the Balhousie brand grows even stronger over the next 30 years.”
Balhousie recently announced plans to spend £10m on its homes.
The group was once named as the fastest-growing business in Scotland.
Owner described part of Liverpool as ‘like Beirut’
Television viewers got a glimpse of Mr Banks’s philanthropic side during an episode of Channel 4’s The Secret Millionaire, in which he handed over more than £70,000 to deserving causes after spending a week undercover in one of Liverpool’s poorest areas.
Balhousie’s entire workforce were given lottery tickets to mark his appearance on the show.
Mr Banks later described the problem estate in Liverpool as “like Beirut”, but he is no stranger to danger. He is a former paratrooper and served in the Falklands during the 1982 conflict with Argentina.
AcalisCare has almost two decades of international experience in operating and developing care homes in Belgium, Chile, Colombia, Uruguay and Turkey.
Lieven Baten, a partner in AcalisCare, is the new chairman of Balhousie Care Group.
He said: “Balhousie Care is a natural fit for us. This deal gives us an important foothold in Scotland.
“Balhousie brings innovation and excitement to Scotland’s care sector. We see huge potential to grow and expand the services under the Balhousie brand.”
Conversation