Business

Care Home operator Life Style Care (2011) plc has reported revenues of £50.9m in its first 14 months of trading to 31 October 2012....

New Century Group reported high losses for the year ending 31 December 2011 as it seeks to refinance and is locked in negotiations with...

Care UK has acquired Living Ambitions, a local supported living service for adults with learning disabilities in Lancashire and Salford, from owner Peter Watson...

Care UK has acquired Living Ambitions, a local supported living service for adults with learning disabilities in Lancashire and Salford, from owner Peter Watson for an undisclosed sum last month.

New Century Group reported high losses for the year ending 31 December 2011 as it seeks to refinance and is locked in negotiations with one lender over the alleged mis-selling of rate hedging products which the provider said resulted in a significant loss of profit. Directors reported they had been advised by a leading counsel that there is a strong case that some rate hedging products had been mis-sold to the business by one of its lenders which caused a loss of profit. The group, which provides residential and nursing care posted turnover of £36.4m (2010: £35.6m) but costs of £23.3m and administrative expenses of 11.4m meant that an operating profit of just £1.7m was achieved (2010: £1.1m). This was subsequently wiped out by high interest charges of £2.3m (2011: £2.9m) and following taxation, a loss of £671,300 was recorded (2010: £4.2m)

LNT Group, which operates Ideal Care Homes, completed a refinancing deal worth £100m last month.Chief executive Lawrence Tomlinson praised two of the four banks...

CareTech Holdings, UK provider of specialist social care services, issued a trading update for the first half of the financial year.During the period, the...

GP partners Ashley House reported last month that its move further into the social care sector is paying off following a difficult 2012 which...

Private equity house Lyceum Capital is rumoured to be acquiring specialist care provider Curocare in a deal worth £25m.It has been reported in the...

Homecare provider Mears Group announced last month that it acquired Scottish care business ILS for £22.5m on a debt-free, cash-free basis.Mears said the deal...