CareTech reports growth
CareTech, a listed specialist care provider, has reported further growth in 2009.
Executive chairman Farouq Sheikh trading for the year to the end of September had been in line with management’s expectations and reflected continuing progress from both organic and acquisitive growth.
‘Organic bed growth is again ahead of management expectations and our strong regional management structure continues to support local relationships in order to deliver continuing growth,’ said Mr Sheikh.
During the year CareTech increased capacity by a further 122 beds, adding 97 beds through organic growth across its range of specialist services and 25 through the acquisition this year of ‘step down’ mental health provider Lyndhurst.
‘Our acquisitions in 2008 have been successfully integrated and the acquisition of Lyndhurst is an important extension of our community mental health capability,’ said Mr Sheikh. ‘With leading internal quality standards, high levels of occupancy