By Caring Times editor GEOFF HODGSON
Christmas Past: It’s cold outside but inside the care home the star atop the tree beams its rays of hope onto the faces of residents, families and staff, all radiant with inner human warmth. Pressed into service as a Santa, the handyman’s ‘ho-ho-hos’ are perhaps not quite what they might be but his eyes twinkle nevertheless as he delves into his sack and produces a gift for everyone. The radio carol service recalls to the residents the many past Christmases they have celebrated.
Christmas Present: The trees’ lights, leaking in to the manager’s office show her face creased in concentration as she catches-up with the paperwork. The team of inspectors has recently departed, leaving the staff dispirited and behind in their work. “Will The Cedars celebrate another Christmas?” they wonder; there have been rumours that it will … Read More »
• Agreement provides stability for the business and reassurance for residents
• Day-to-day operations continue unaffected
• Parties to work together to present restructuring plan to Four Seasons creditors
Four Seasons Health Care and H/2 Capital Partners say they have executed a ‘standstill’ agreement in relation to Four Seasons’ December interest payments, which the company shall not make in order to maintain appropriate liquidity for its operations. Four Seasons says the agreement ensures continuity of care for Four Seasons’ residents and enhances operational stability for employees and all stakeholders.
Four Seasons, H/2 and their respective advisers will now use the standstill period to facilitate an orderly transition and seek agreement on implementation terms for a restructuring on behalf of creditors. The primary objective of a restructuring plan is to create a sustainable, long-term capital structure that best serves residents, patients and employees.
Having agreed the … Read More »
One of the biggest care homes on the Welsh borders, St Nicholas House in Montgomery, has been acquired by RD Capital Partners (RDCP Care) in a leveraged buyout deal supported by a seven figure funding package structured by Allied Irish Bank (GB).
Purchased from its previous owners, Roger and Sheila Hill, the 49-bed purpose built nursing home is RDCP Care’s second care home acquisition this year after completing the purchase of Kings Bromley care home in Staffordshire, their flagship care home in the Midlands.
Established in July 2015 by Sameer Rizvi and Iryna Dubylovska, RDCP Care is the care home management arm and subsidiary of London based investment firm, RD Capital Partners LLP. This is an important milestone for RDCP Care as the group’s enterprise value (EV) has now risen above £10m and the number of employees is now more than 130.
The … Read More »