Grampian homes transfer completed

Posted on June 1st, by editor in Caring Times. No Comments

Southern Cross Healthcare reports that it has completed the purchase of 13 nursing home businesses from administrative receivers of The Grampian Care Group, PricewaterhouseCoopers. The transaction has added 800 beds to the Southern Cross portfolio, which now operates a total of 60 modern purpose-built homes with 3,517 beds throughout the UK. The company is also negotiating the purchase of another three Grampian homes. Southern Cross chairman John Moreton said the underlying asset quality of the 13 homes already acquired from Grampian, which went into receivership in May, met Southern Cross’s standard. “Our objective, now that we have completed this transaction, will be to restore commercial stability to the businesses by introducing our proven operating standards and efficiencies, and rebuilding staff morale and confidence in their future,” Mr Moreton said. “Recent events had obviously cast doubt on the future of these homes for residents, their families and the hard working and devoted staff. By stabilising

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