Southern Cross takes on NHP’s Ultima leases

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

Healthcare investment group NHP plc has announced that Southern Cross Healthcare Ltd is to acquire 39 operating leases (1,949 beds) previously held by Ultima Holdings Ltd. After local authority approvals for the lease transfers have been obtained, Southern Cross will operate a total of 94 NHP-owned homes (5,559 beds), representing about 30% of NHP’s portfolio. The 1,949 beds being acquired by Southern Cross will make it the fourth largest operator of care homes in the UK with a portfolio of 6,066 beds. NHP is funding a comprehensive capital refurbishment programme for the 39 homes, investing more than £2 million, with no increase in the rent, to improve the quality of the physical environment for residents and staff. NHP chief executive Bill Colvin said he believed the transfer of the former Ultima homes to Southern Cross would benefit the long term operation of the homes, and that it was a positive development for the staff and residents. “Southern Cross is a well respected national care home operator with

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