Virgin Care changes ownership, rebrands to HCRG Care Group

London-based investment firm Twenty20 Capital has acquired the former Virgin Care, from Virgin Group. The company has been rebranded as HCRG Care Group.

HCRG Care Group is a British private provider of publicly funded community health and social services. The group entered the healthcare market – as Virgin Care – in 2010 and currently provides more than 400 services nationwide with a focus on community and primary health. Account fillings have Virgin Care’s 2020 revenue at £14.3 million.

Virgin Group, its previous owner, has supported Virgin Care with more than £75 million of investment in the company.

The deal adds £260 million of revenues to Twenty20 Capital’s portfolio, the firm says, adding that this acquisition is Twenty20 Capital’s fourth acquisition in the health and social services space in the past year.

A Twenty20 Capital spokesperson said in a press release: “As an investor in healthcare services for more than 20 years, Twenty20 Capital is excited to support the company’s plans building on its strong market position, whilst growing its services to provide outstanding service to customers.”

Dr Vivienne McVey, chief executive of HCRG Care Group added: “This investment by Twenty20 will allow us not only to continue that work but also build on our existing success.

“Whilst we have a new name, as HCRG Care Group it remains business as usual – our team will continue to focus on changing lives by transforming health and care working with commissioners, communities and our hard-working frontline colleagues to deliver joined-up, efficient, but, above all, high-quality services.”

Twenty20 Capital thanked HealthInvestor for reaching out but declined to comment on valuation details at this time, adding that the group is working flat out on this project and foresees this being the case until the end of February – March.

There are rumors that the takeover could cause a loss of a £54 million Somerset healthcare contract. HealthInvestor will keep an eye on that.

Date published: December 7, 2021

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