Caring Times, May 2018
UK-based Target Healthcare REIT has agreed contracts to buy and fund two new care homes.
At the end of last year Target had 49 care homes, having made five acquisitions during the year, with a further property under development, giving a total market value of £334.9m (June 2017: £282m).
Target has agreed a £15.6m deal to buy and fund a 68-bed care home in Shrewsbury, Shropshire, to be operated by Rotherwood Healthcare, and a 74-bed facility in Preston, Lancashire, to be let to L&M Healthcare.
The Shropshire home will replace an existing 45-bed home, being one of six care homes operated by Rotherwood Healthcare.
The Preston care home will become the fifth site operated by L&M Healthcare across the North West of England. Both operators will be new tenants to Target Healthcare.
Both homes are scheduled to open during 2019.
Caring Times, May 2018
A Sussex society providing specialist residential and home care for elderly people has received an unexpected £100,000 windfall.
Abbeyfield Ferring Society was presented with the substantial donation following the solvent liquidation of care home and sheltered accommodation provider Careways Trust by accountancy, investment management and tax group Smith & Williamson.
The society, part of the international Abbeyfield network, runs the Cornwall House residential home and the Old School House supported living in the village of Ferring, near Worthing, as well as supporting older people in their own homes.
The donation – from surplus money held by the trust after all creditors had been paid in full – is funding a new kitchen and revamped garden area at Old School House. Not-for-profit Abbeyfield Ferring was chosen to receive the windfall because it is based in Sussex, the county where Careways’ own … Read More »
Caring Times, May 2018
One of the UK’s largest private care providers has launched an initiative to recycle half of the waste it produces.
The Regard Group, which provides supported living, residential and day services for people with learning difficulties and mental health needs, is hoping to increase recycling by 50% in 6 months.
“In the past we used different bin providers across the country,” said Regard’s building compliance officer, Stuart Cockle, who heads the efficiency drive.
“We are now able to rationalise this by going through one central procurement point.”
Regard is working with national waste management company UKWSL who took over all bin collections at the group’s residential care homes, offices and some supported living services in January.
“UKWSL will be auditing the sites to confirm what, and how much, is being thrown away,” added Stuart.
“They will then analyse the waste amount based on … Read More »
Healthcare sector specialists Cushman & Wakefield team has examined average weekly fee spreads across the United Kingdom and identified the broad range of fees that care homes charged their occupiers varied according to location.
Tom Robinson, partner at Cushman and Wakefield, said: “the spread in average weekly fees highlights the way in which regional wealth impacts on profile and why so many buyers focus on the south and midlands.
“But underneath the regional zones, every micro location must be considered in detail as wealth pockets exist in all regions of the UK. Location remains a key factor when choosing to invest in a care home, both macro and micro.”
EBITDARM (Earnings Before Interest Tax Depreciation Amortisation Rent and Management) of care homes by bed is also explored. Scotland, where relatively low fees are charged, realised substantial profits and outperformed much of the regional … Read More »
The Competition & Markets Authority (CMA) has secured more than £2m in compensation for residents of care home operator Sunrise Senior Living as part of an investigation into compulsory ‘upfront fees’.
Sunrise has said it will give money back to the vast majority of residents who paid such fees since 1 October 2015. This will apply to residents who have left or leave within two years of moving in to one of the company’s care homes. If the resident dies within this time, their family will receive the compensation.
The move comes as part of the CMA’s ongoing investigation into how some care homes charge for their services. This uncovered that Sunrise’s description of its upfront fee – running to several thousands of pounds per person – and how it would be used, was unclear. Moreover, prospective residents were having to pay … Read More »
Homecare provider Allied Healthcare is pursuing a company voluntary agreement (CVA) as part of a plan to restructure its finances due to a ‘highly challenging environment’ that has placed the company under pressure.
A CVA would see Allied agreeing a revised schedule of repayments with its creditors so that the company can continue investing in its services and people. Allied, which has contracts with 150 councils and employs more than 8,500 people, is owned by private equity firm Aurelius.
Rising labour costs , together with a potential £11m bill for backdated ‘sleep in’ payments, have been identified as the chief reasons for Allied’s financial troubles.
Ampersand Care is to close two of its care homes in in Manchester May, saying the fees it receives from the local authority, Trafford Council, do not meet operating costs.
The company closed its 62-bed Swinton Hall nursing home in Salford earlier this year after it was rated ‘Inadequate’ by the Care Quality Commission. Ampersand Care now operates a single care home, the 31-bed Pinewood Manor in Crowborough, East Sussex.
Ampersand also attributes the latest closures, of 41-bed Shawe Lodge nursing home in Urmston and the 33-bed Shawe House care home in Flixton, to a lack of support or willingness to work in partnership from the national care regulator, the Care Quality Commission (CQC).
Operations director Umi Barwell said she hoped the latest closures would act as a wakeup call to Trafford Council.
“Otherwise other care providers may face the same situation,” said Ms … Read More »
Not-for-profit social care provider Brunelcare has published a study report on integration of health and social care sub-headed Rising to the
In February a cross-functional working group within Brunelcare was established to compile a report showing and evidencing how the charity contributes to the integration of health and social care within the South West, the region in which Brunel Care’s services are provided.
A key focus for the working group was to respond to the National Audit Office report on health and social care integration published in February.
In gathering ‘best-practice’ evidence for the report, the group focused on two specific elements of Brunelcare’s performance: (1) how they help reduce hospital admissions and (2) reducing delays to transfer of care from hospital to other settings.
Sandra Payne, Brunelcare’s head of clinical excellence said the charity’s report acknowledges and agrees with the key findings of … Read More »
Care home provider Advinia Health Care has acquired 22 Bupa care homes as part of a deal with the international healthcare group that closed in February. The acquisition follows the completion of Bupa’s transfer of 110 care homes to HC-One in December.
The deal means Advinia Health Care now operates 38 care homes in the UK, comprising 3,250 beds, an increase of more than 500%. The company is now among the top 10 private care providers in the UK, and has taken over the employment of more than 3,700 staff who previously worked at Bupa. No reductions in overall staff numbers are expected.
The equity for the Advinia purchase, whose price has not been disclosed, was provided by Dr Sanjeev Kanoria, a liver surgeon and ex-McKinsey consultant from London, who co-founded Advinia with his wife Sangita Kanoria. Debt was arranged by Credit … Read More »
Caring Times, April 2018
Residents and team members at Sunrise Senior Living UK and Gracewell Healthcare are celebrating after the care home providers were named the best in the country by Market Analysts Laing & Buisson based on inspection ratings undertaken by the Care Quality Commission (CQC).
100% of all inspected Gracewell homes, and 96% of all Sunrise communities, have been rated ‘Good’ or ‘Outstanding’ by the CQC, demonstrating the exceptional standard of care offered by the providers across the country.
Sunrise has been ranked top for residential care*, and Gracewell has come first for nursing care**. Sunrise has also come second for nursing care.
The CQC is the independent regulator of all health and care services in the UK. The rankings demonstrate the success of Sunrise and Gracewell’s resident-centred approach to care, which ensures residents lead happy, fulfilled lives.
Sunrise and Gracewell’s personalised approach … Read More »