C&C acquires majority of Ark Home Healthcare
Ark Home Healthcare has been offloaded by private equity fund Core Capital for an undisclosed sum to City and County Healthcare Group, with MiHomecare and Westminster Homecare also acquiring some branches. Core Capital established Ark in 2010, creating a domiciliary care business that offers help…...
Southern strategy increases Hallmark’s profits
Hallmark Care Homes Group reported a 6.5% rise in revenues from £52.4m to £56.3m for the year ended 31 March 2017. Cost of sales stood at £32.2m (2016: £29.m) and administrative expenses were £13.3m (2016: £16.6m), leaving an operating profit £10.8m, a 72.2% increase on…...
Care England wins right to intervene in sleep-in appeal
Care England has now joined the sleep-in fray after winning the right to intervene in Mencap’s Court of Appeal case, due to be heard next month. The representative body has been given leave to pursue new arguments not yet considered in the appeal to the Royal Mencap Society vs Tomlinson-Black…...
Future lease costs leave Avery just in the red
Avery Healthcare Holdings reported a 7.7% rise in revenues for the year ended 31 March 2017 from £126m to £135.8m. Cost of sales were £72.9m (2016: £67.2m) and administrative expenses stood at £64.3m (2016: £59.7m). Exceptional administrative expenses of £10.4m (2016: £11.1m) arising from future…...
Solutions to the adult social care funding crisis?
Analysis of the five most commonly raised solutions to the adult social care funding crisis in England has been published by The King’s Fund and the Health Foundation. After reviewing relevant literature, speaking to two stakeholder groups, Approaches to Social Care Funding aims to identify…...
Orders of St John reports ‘muted’ financial performance
Described as a ‘muted’ financial performance, not-for-profit operator The Orders of St John Care Trust (TOSJCT) reported income of £116.2m for the year ended 31 March 2017 on its care home and extra care estate, a 5% increase on the £110.6m achieved the previous year…....
Losses continue for C&C
The parent company of City & County Healthcare continued to report significant losses in the year ended 31 March 2017. C&C Topco Limited reported revenues of £157.3m, comprising £152m from continuing operations and £5.2m from acquisitions, a 27% rise on the £123.8m achieved the previous…...
Lower costs lessen Eden Care & Support’s losses
Turnover for specialist care operator Eden Care & Support Limited remained static at £13.8m for the year ended 31 March 2017 (2016: restated £13.9m). This lack of growth was reflected in the cost of sales of £8.6m (2016: £8.7m) but administrative expenses fell to £3.8m…...
Legal headwinds in 2018
Partner at Simmons & Simmons Jocelyn Ormond outlines some key legal risks for UK investors over the coming year Appetite for UK social care assets remains robust coming into 2018, but effective due diligence remains critical to any successful investment. Commissioning, pricing, care quality, staffing and…...
Smart homes could save NHS and social care billions – IMechE
Financial incentives should be introduced for construction companies to create 78,000 adapted smart homes per year over the next decade. According to a report published today by the Institute for Mechanical Engineers, these modified homes could save councils and the NHS billions of pounds each…...
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