the company was acquired for circa £1.5bn in 2006 by three delta llp, the investment fund backed by the state of qatar, and further expanded. the acquisition was funded by debt which was readily available in a market where investors saw rising property prices and continuing demand for care for the elderly, much of it paid for by the public sector. however, the company was unable to pay its debts and with a downturn in the property markets was unable to refinance and the owners walked away, losing their investment.