Barclays funds Keane Premier Healthcare acquisition
Lanarkshire based Keane Premier Healthcare has agreed a £2.7m loan with Barclays, enabling the company to expand its portfolio with the acquisition of a third care home.
The funding package will also support the refurbishment of the former Greenlees home in Cambuslang which has been renamed Georgia Park. The 39-bed facility had been trading in administration but with the new management team and investment funding confirmed, residency has now grown by more than 50% to 36.
Keane Premier Healthcare has a strong track record of rejuvenating existing care home facilities, embarking on its first project in 2009: the transformation of an 18-bed care home in Dunvegan, Cambuslang, into a 24-room luxury facility by 2011. Following its success, the group committed to a similar project with Duncraggan care home in Burnside, Rutherglen in 2012, expanding the 18-bed setup to a capacity of 24 within a year. Keane Premier Healthcare’s business improvement plans have boosted both homes from Care Inspectorate Grade 2/3 establishments to Grade 5 (Very Good).
The group also launched Keane Premier Support Service in 2012, a community based business which cares for elderly people and people with learning disabilities which delivers about 1,500 hours of care on a weekly basis.
The family run business was founded in 2008 and is operated by James and Lynn Smith, along with their two sons Ross and Ryan. The Barclays deal was led by relationship directors Helen Hutchison and Lesley Dunbar.
Keane Premier Healthcare is one of the many organisations to benefit from Barclays’ Scottish SME fund which was launched in June 2016 to provide access to funding for businesses across all sectors with turnover up to £25m.