Ion Equity

NUA Healthcare

Ulric Kenny acquired a majority stake in Nua Healthcare from its founder Ed Dunne in March 2015.

Nua Healthcare is Ireland's leading specialist care provider for people with intellectual disabilities, mental health conditions and other complex needs. It supports some of Ireland's most vulnerable and complex people in full time residential and supported living settings.

Following Ulric's investment, the business put significant resources into strengthening its management team and expanding its operational capacity. This enabled it to deliver substantially organic growth, delivering services to people requiring care and growing its operations 150% by December 2019 to 220 residential service users in 45 homes being cared for by some 1,700 staff. More importantly, this was done while delivering very high quality care: Nua's quality audits by HIQA ranked it in the Top 3 of all residential disability services in Ireland.

Ulric and Ed sold their interest in Nua Healthcare to an iCON Infrastructure backed management buyout in January 2019. The investment was a significant success for the Ed and Ulric, and the business has gone on to perform exceptionally well under its new owners.