ANS was on wrong side of the ‘consolidation divide’

Posted on August 19th, by editor in Caring Times. No Comments

Increasing difficulty in finding sites on which to build new care homes was a major driver behind the decision by leading provider ANS plc to exit the care sector. ANS was acquired by BUPA Care Homes in August for £328 million, for which BUPA acquired 44 care homes with about 3,000 beds, consolidating its position as the UK’s biggest long term care provider. ANS had an annual turnover of about £90 million with an operating profit, excluding depreciation and central costs, of about £30m in its care home operation (but closer to £25 million when leasehold payments are deducted). Former ANS group finance director Fred Sinclair-Brown told _Caring Times_ that the company’s game plan had always been to continue to grow organically by building new facilities to meet a growing market demand. “In recent years this had become an ever more difficult strategy to pursue, in that we were competing for suitable sites with the residential housing sector,” said Mr Sinclair-Brown. “Obtaining planning approval for projects

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