Advinia Healthcare has caught the eye of the British regulator, the Care Quality Commission after it became concerned over a failure to cooperate with an inquiry into its finances.
Advinia looks after 3250 residents, having bought 22 homes across the UK from another operator, Bupa, last year.
That move - which cost the equivalent of more than AUS$100M - made it Britain’s tenth largest care home operator overnight.
The Guardian newspaper has seen leaked documents showing the regulator’s concerns about the group’s cash flow and financial management, along with the refusal to allow an independent audit of its finances.
The documents reveal that over three months, the company did not generate enough cash to meet capital and interest repayments.
The CQC says it won’t comment on individual cases - however, if Advinia continues to block an audit it could lose its license to practice.
