Monday, March 27, 2023
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Finance director recruited at Athena Care Homes

Athena Care Homes has appointed Ben Wright as its finance director to lead the provider through a period of growth. Wright joined Athena Care Homes earlier this year and has already launched tender processes for business expenses to lock in prices and protect the operator from future rises. He brings 15...

Anchor secures ‘green’ funding to retrofit homes

Anchor has secured £2.2m from wave 2.1 of the social housing decarbonisation fund to retrofit more than 300 homes by 2025. The not-for-profit provider of specialist housing and care for people in later life will use the funding, received from the Department for Energy Security and Net Zero, to increase...

Workforce challenges drive up agency costs at National Autistic Society

Recruitment and retention challenges drove rising expenditure at the National Autistic Society, as agency staff costs grew 29%. Its financial results showed the workforce accounted for 72.4% of its overall costs, a slight rise from 72.1% in 2021. The charity, which employed an average of 2,527 staff last year (2021:...

Reform plans could dampen investor appetite

Investors could begin to lose appetite in the care home sector due to threats from charging reform policies. Publishing the 33rd edition of Care Homes for Older People, author William Laing said while the sector had bounced back from the pandemic, it now faced increased threats from government reform policies, which aim to tackle private to public cross-subsidisation and better align fees. Providers risk facing downward pressure on their fee income in October 2025 as the upper asset threshold for eligibility for council support rises from £23,250 to £100,000. This means...

Campaign aims to highlight benefits of working in children’s care  

A sector-led national recruitment campaign has been launched aimed at inspiring more people to discover career opportunities in children’s homes. The #IfYouCareYouCan campaign, through films and online content, provides insight into what it is like to work in children’s homes and residential childcare settings. The campaign and careers website highlights entry level roles and career progression opportunities in residential childcare. While the government has pledged £20m to address recruitment challenges in foster care and invested in the adult social care workforce, children’s homes have been seen as a ‘forgotten sector’ by...

Police launch investigation as CQC downrates two ACG hospitals

Staffordshire Police have confirmed they are investigating allegations of sexual abuse at Ivetsey Bank Hospital – a CAMHS service for 37 children operated by Active Young People, part of Active Care Group (ACG). This is the second allegation of sexual assault at an Active Young People hospital in the last...

CMA approves PHIN plans to accelerate completion of 2014 Order

The Competition and Markets Authority (CMA) has approved new plans from the Private Healthcare Information Network (PHIN) to accelerate completion of the Private Healthcare Order’s Article 21 measures. PHIN chair Jayne Scott said the plans, which have been published in...

NHS expected to miss 78-week waiting target

The NHS is expected to miss its target to eliminate waits of 78 weeks or more for routine treatment by the beginning of April. In February, NHS England (NHSE) national director of elective recovery Sir Jim Mackay told an Institute for Fiscal Studies (IFS) event that the NHS was on course to meet the target despite high patient volumes. There were around...

Continued recovery in patient demand sets sector on course for record activity

New data published by Healthcode has provided fresh evidence of strong recovery in the number of insured patients being treated in the independent sector. The healthcare technology specialist, which processed 8.6 million insurer invoices in 2022, said billing volumes were up 19% in the first two months of 2023 compared to the same period last year. For hospitals alone, billing for...

Health and wellbeing start-up launches in UK

UK-based start-up GetZeN has launched a new mental health and wellbeing platform aimed at employers. The company blends a technology platform with human insight to create tailored mental health and...

Maven Clinic expands UK presence with acquisition of Naytal

Women’s and family health specialist Maven Clinic has acquired London-based digital health company Naytal in a bid to accelerate its expansion in the UK and Europe. Financial details of the...

Digital mental health platform HelloSelf raises £16.6m in Series B

London-based digital mental health platform HelloSelf has raised £16.6m in a Series B funding round led by Octopus Ventures. Existing investors OMERS Ventures, along with Mantaray and Oxford Capital, also...

Sweden: Palette turns to OrbiMed for debt facility in wake of SVB collapse

Global life sciences company, Palette Life Sciences, has signed a debt financing facility for up to US$75m with healthcare investor, OrbiMed. The non-dilutive capital provides further financial flexibility to support global commercial and product development activities across its product portfolio, while a portion of the proceeds will go towards...

Belgium: Galapagos increases share capital through rights issue

Galapagos, a fully integrated biotechnology company, has increased share capital through a subscription rights issue. The firm has issued 61,560 new ordinary shares for a total capital increase (including issuance premium) of €1,769,850 (Around US$1.9bn). Total share capital currently amounts to €356,444,938. Founded in 1999 as a joint venture between Crucell and Tibotec, Galapagos has R&D capabilities cover multiple drug modalities, including small molecules and cell therapies. Its portfolio comprises discovery through to commercialized programmes in immunology, oncology, and other indications.

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