Sanctuary buys 35 care homes from Embrace
Housing and care provider Sanctuary Group has purchased 35 residential care homes and a supported living scheme from Embrace Group.
The homes are largely in Scotland and the North East, broadening Sanctuary’s geographical spread as the group’s 68 existing care homes are mostly in the Midlands and South. The purchase will bring the total number of bed spaces provided by Sanctuary Group to more than 5,300.
The 1,800 staff members in these homes will become part of Sanctuary Group which employs around 11,000 people at present.
Sanctuary’s Group chief executive David Bennett said the group’s existing portfolio had been assembled through a mixture of acquisition, development and self-build.
“As such, we have extensive experience of integrations of this nature,” said Mr Bennett.
“We believe that experience combined with a complete dedication to caring for older residents will ensure that these homes are seamlessly brought into Sanctuary. “Sanctuary is committed to putting kindness at the heart of our care for older people, giving them and their families beautiful environments within which they can live fulfilled and happy lives.”
Martin Gould, head of brokerage for Care at Christie & Co who handled the sale, said the off market transaction demonstrated the strength and appetite for well performing portfolios that meet a strong compliance level.