Business

Sovereign Capital is to either sell or attempt a stock market flotation of its domiciliary care provider City and County Healthcare. The venture capitalist is...

Social housing provider Coast & Country is expanding its support for older and disabled residents with the launch of a ‘one-stop-shop’ to help people...

Seven private providers have reached the next stage in the bid to win the £800m older people’s services contract from Cambridgeshire and Peterborough Clinical...

Belton Associates (Group Holdings) Limited, the new holding company for the National Fostering Agency following its Graphite-backed management buyout from Sovereign (CCMn February 2012),...

Domiciliary care franchise Bluebird Care saw turnover soar in the year ended 31 March 2013 from £2.7m to £4.2m. With relatively low overheads, the...

Supported living care providers Future Home Care experienced a rise in profits for the year ending 31 March 2013. Turnover increased from £16.7m to...

Sanctuary Care experienced an 18.7% rise in revenues from £64.8m to £77m for the year ended 31 March 2013. An operating profit of £8.3m...

High-end care home provider Willowbrook Healthcare has been acquired from Graphite Capital in a management buy-out backed by Health Care REIT. Willowbrook was established in...

Care UK Health and Social Care Holdings reported a 9.4% increase in group turnover to £487.5m for the year ending 30 September 2012 (2011:...

Care UK Health and Social Care Holdings reported a 9.4% increase in group turnover to £487.5m for the year ending 30 September 2012 (2011: £445.7m). Most of this growth was attributable to the residential division following the addition of 1,850 beds from the failed Southern Cross portfolio at the end of 2011. Adjusted group EBITDA (operating profit plus depreciation), which is one of Care UK’s preferred KPIs, increased by 8.6% to £49.3m (2011: £45.4m). After charging depreciation (£17.4m ), amortisation (£17.2m) and non-recurring items (£4.2m), operating profit was a narrowish £10.5m for the year (2011: loss of ££7.1m). And net financing expenses of £73.4m (2011: £68.8m) pushed the private equity owned company (backed by Bridgestone) well into the red again with a £62.9m pre-tax loss (2011: £75.9m). However, a tax credit of £9.7m brought the loss after tax down to £53.2m with the 2011 sum reduced to £64.4m following a tax credit of £11.5m.