RBS funds Life Style’s new-build programme
Five new care homes are to be built in the South East by Life Style care plc, with a Â£50m funding facility provided by The Royal Bank of Scotland. The programme will boost Life Style’s portfolio to more than 30 homes, providing more than 2,500 places for frail elderly and younger physically disabled people, representing an increase in bed numbers of more than 100 per cent in three years. The latest planned developments are in addition to several care centres that Life Style Care now has under construction in Swindon, Dorking, Ealing and Hornchurch. Chief executive Ramesh Sachdev said that, while his company did not operate any specialist, and therefore potentially more lucrative, areas of care provision, Life Style Care had the highest operating margin (30 per cent) of all the major long-term care providers in the UK. “We have successfully implemented a strategy of developing the company organically over several years, while maintaining the high standards of care for which we are renowned,” said Mr Sachdev.