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High agency staff use dents profitability at Larchwood

High agency staff use dented profitability at Larchwood Care Homes as the group found difficulty in attracting and retaining staff. The group, which covers both a south and north division, said the main risk facing the business was ‘continued pressure on local authority funding’ with only the most highly dependent...

Anchor to operate care homes following sale by Hadrian Healthcare

Lime Property Fund managed by Aviva Investors has bought five care homes from Hadrian Healthcare. The properties have been leased to Anchor Hanover on 35-year...

Bupa pilots meal planning software at retirement home

Bupa has completed a pilot with a tech start-up that provides food management and meal planning for residents at one of its retirement village...

Target offloads two care homes

Target Healthcare has disposed of two care homes in Surrey and Essex for an undisclosed sum. The disposals follow offers received which combined are greater...

Costs of SEN services breaking budgets, council leaders warn

Spiralling costs of special educational needs (SEN) services could eventually ‘break’ council budgets as the number of pupils on Education, Health, and Care Plans (EHCPs) rises. County council leaders have warned that ‘well-intentioned’ government reforms to expand SEN services are threatening budgets, with the number of pupils on plans growing...

New Century Care promotes Phil Smith to role of md

New Century Care has promoted Phil Smith to the role of managing director. Smith, who has taken over from Nick Yarrow, spent almost four years as the provider’s chief operating officer (COO), during which time he oversaw an internal audit of all its care homes before implementing a refurbishment and...

Inappropriate housing making older people feel ‘trapped’

Housing is increasingly disconnected from public transport and social infrastructure leading to people to grow old in homes that are not suited to how they want to live. Research by the Royal Institute of British Architects (RIBA) and Centre for Towns is calling for more age-friendly accommodation provision to help tackle issues in both housing and social care. The failure to meet the need for suitable housing for the older generation is highlighted in A Home for the Ages: Planning for the Future with Age-Friendly Design, which is calling for more...

Voyage Care makes addition as revenue grows

Voyage Care has bought supported living provider Fox Elms Care Ltd in Gloucestershire for £2.4m as it continues to increase the number of people it supports. Fox Elms provides support to 35 people in Gloucester, Cheltenham, Churcham and Stroud and the acquisition represents a significant step in Voyage’s strategic growth. The deal comes as Voyage Care reported its financial results for the year ended 31 March 2019, which saw the operator return a pre-tax profit after a loss last year. Revenue at the group was £249.8m, an increase of 9.1% from 2018...

Income up at WPA

Health insurer WPA has reported a 3.8% rise in total income to £116m for the year ended 31 December 2018. Net insurance premium income increased from £106.8m in 2017 to £108.2m this time around, while administrative income edged up to just over £2m and investment returns almost doubled to £5.7m...

Secure Income REIT sells eight private hospitals in £347m deal

Real estate investment company Secure Income REIT has sold eight of its 19 private hospitals in a £347m deal. The hospitals have been bought by US healthcare property investor, Medical Properties Trust, and will continue to be operated by Ramsay...

Construction work complete at flagship proton therapy site

Advanced Oncotherapy, the developer of a next generation proton therapy system for cancer treatment, has completed construction of its flagship site in London’s Harley Street. The Howard de Walden Estate funded the £10m refurbishment project of the Grade II listed properties at 141 and 143 Harley Street, which will house the AIM-listed company’s first LIGHT system. The project will now move...

Injecting capital into health tech

Dr Michelle Tempest, partner at strategy consultancy Candesic, explores how private equity is investing in everything from digital diagnostics to AI tertiary care The recently published book Bad Blood is an expose into how ‘not to invest’ in the healthcare sector. It follows brave journalist, John Carreyrou, as he investigates the finger prick blood diagnostic Silicon Valley start-up company Theranos.  Elizabeth...

Placement Group grows despite challenging market conditions

Healthcare recruitment specialist the Placement Group has announced a 3% increase in turnover to £29.4m for the year ended 31 December 2018 despite wage caps in the NHS and...

Vanguard moves into Australian market

Mobile operating theatre specialist Vanguard Healthcare Solutions has launched an Australian subsidiary as part of its international growth strategy. Q-bital Healthcare Solutions pty Ltd was set up following market testsing...

Bupa Cromwell Hospital and GenesisCare partner to launch cancer treatment centre

Bupa Cromwell Hospital and Australian-owned radiotherapy and cancer treatment specialist GenesisCare have entered into a partnership to create an internationally recognised centre of excellence at the hospital in Knightsbridge. The centre,...

France: TRIBVN Healthcare raises €5m

TRIBVN Healthcare, which develops software solutions for digital pathology, has raised €5m (US$5.6m) in funding from LBO France through its Digital Health 2 venture fund. "I am very excited that LBO France is supporting us in the next phase of TRIBVN Healthcare's development,” said Jean-François Pomerol, CEO of TRIBVN Healthcare....

Dubai: GFH Capital acquires $180m US healthcare portfolio

GFH Capital, in partnership with Madison Marquette, has acquired six income yielding senior healthcare properties located in the US in a deal worth more...

Netherlands: Affidea partners with ScreenPoint Medical

Affidea, Europe’s largest medical services provider, is to partner with Dutch medical imaging company ScreenPoint Medical to increase diagnostic accuracy of screening mammography with the use of AI. In a statement,...

China: Good Doctor inks deal to build internet hospitals model

Ping An Good Doctor, China’s biggest online health care platform, is moving closer to its plan for a new internet hospital model after signing an agreement with nearly 50...

Georgia: GHG signs agreement with JSC David Davarashvili Clinic

Georgia Healthcare Group (GHG), the largest healthcare services provider in Georgia, has signed a cooperation agreement with JSC David Davarashvili Clinic, one of the country's leading maternity houses. Under the...

Europe: Ray Berglund joins Alvarez & Marsal

Professional services firm Alvarez & Marsal has appointed Ray Berglund to help spearhead its effort in expanding its healthcare practice in Europe. Berglund will be based in London and will...

Australia: Maria Maieli named interim CEO at Ellex

Australian ophthalmic laser specialists Ellex Medical Lasers has appointed Maria Maieli as interim chief executive officer. Ellex's current CEO, Ged Wallace has resigned effective immediately. No further details of the reason for his resignation have been given. Maieli has over 25 years of senior financial management experience in public and private companies. She has been an employee of Ellex since 2011...

HMi meets… Giuseppe Recchi

Giuseppe Recchi believes that the healthcare industry is still under-consolidated. The chief executive officer of Affidea Group talks expansion, data and putting patients first.  Affidea is Europe’s largest medical services provider. It has 245 diagnostic imaging, outpatient and cancer-care centres in 16 countries and continues to grow rapidly, in particular in Ireland and Hungary. Here, chief executive officer Giuseppe Recchi...

New Zealand: Arvida raises NZ$92m for recent acquisition

Retirement home operator Arvida has raised NZ$92m (US$62.3m) in a fully underwritten 1-for-5.7 pro rata renounceable rights issue. Approximately 69 million new shares were taken up by shareholders, representing approximately 86.5% of the new shares available under the offer. This represents gross proceeds of NZ$79.3m. Around 10.8 million shares out of a total rights issue offer size of 79.8 million shares were available for the shortfall bookbuild component of the offer. The clearing price under the shortfall bookbuild was NZ$1.35 per new share, a premium of NZ$0.20 per new share over the...

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