UCB Healthcare closes books on new business

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

|By Richard Hawkins| One of the largest established and most respected specialist lenders to the long term care sector has, sadly, finally closed its book to new business. UCB Healthcare was put up for sale by its current owners, Credit Suisse, six months ago but no buyer has been found. This was a surprise and disappointment to the company because reported sales during the first six months of 2000 were better than those achieved in any other previous year. In short, if the company had not been restricted by the sale provisions, 2000 would probably have been a record year. The UCB sales and marketing team is being disbanded but the company will contrive to act as a service company for existing homes ­ said to number about 600 ­ managed by Andy Wilcox. The long term care sector will undoubtedly mourn the loss of UCB¹s expertise and lending. The bank began lending as long ago as 1984 and quickly built up an excellent team led by Len Wackett and including Peter Walsh, Andy Wilcox and Sean Hurden. They positio

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