JERSEY’S competition watchdog has approved the takeover of two care homes by one of the Island’s biggest care providers – after imposing legally binding conditions to “protect vulnerable residents and maintain fair pricing”.
LV Group, which already operates five care homes in the Island, has been permitted to acquire Silver Springs and La Haule by the Jersey Competition Regulatory Authority.
While the authority raised concerns about reduced competition in the market – particularly for privately funded residents and those supported by Jersey’s Long-Term Care scheme – it said these issues could be addressed through specific conditions attached to the deal.
The three conditions now in place are designed to prevent price rises beyond government-set limits and to reserve at least 60% of beds for publicly-funded residents.
All three are legally binding on LV Group and its directors.
Tim Ringsdore, chief executive of the JCRA, said the decision had been reached after consultation with the government and the care sector.
He said: “This decision balances the importance of continuity of care and investment in the sector with the need to protect vulnerable residents and maintain fair pricing.
“The remedies protect existing and prospective care home residents and ensures continued fair competition in the care home market.
“These would not have been achieved without the authority’s thorough review.”
