CM Company News

Members of Beachcroft LLP and Davies Arnold Cooper LLP - both of which have significant presence in the healthcare sector - have voted in favour of the merger of the two firms. Management teams from both firms are finalising the outstanding details which will lead to the launch of DAC Beachcroft LLP this coming November.

NHS Property Services (NHS PS), the company set up to look after properties which used to be owned by primary care trusts, and Community Health Partnerships (CHP), the company established to look after LIFT companies, the joint ventures between public and private providers of primary and social care services, are to merge in 2015.

Care Home operator Maria Mallaband Care Group has been fined £1.6m by York Crown Court following the death of one of its residents. The court...

Strong growth in the first six months of this year has led to an 8% increase in revenues for Mears Group’s domiciliary care arm.

AK (SPV) Limited, the parent company of Akari Care, reported £43m in turnover for the year ended 31 October 2014, a £1m rise on the previous year’s figure of £42m. Cost of sales stood at £28.7m (2013: £27.8m) and administrative expenses (excluding refurbishment costs) were £9.7m (2013: £10.2m).

The owners of Colten Care Homes have announced it has secured a £41m funding facility with HSBC to support its continued expansion. Chief executive of...

Following a period of restructuring, Somerset Care Group reported revenues of £77.7m, a 3.5% increase on the previous year’s £75.1m, for the year ended 31 March 2012. Operating profit also rose from £4.9m to £5.4m and a pre-tax profit of £4.3m (2011: £3.8m) was made.

Hillcrest care Ltd reported increased turnover for the year ending 31 December 2012 and increased profits before tax by just under £1.5m.

Mears Group experienced solid trading’ for the year from July 2012 to date, it said in its interim report to the London stockmarket.

The sale of five care homes as part of a planned geographical realignment strategy led to a 6.2% reduction in revenues from £40.3m to £37.8m at Hallmark Care Homes Group Holdings Limited for the year ended 31 March 2012. Managing care homes accounted for £33.9m of turnover and £3.9m was generated from property development. All revenues from 2011 came from managing care homes. Operating profit stood at £6.8m (2011: £7.9m) and, following the inclusion of £6.6m profit from the disposal of the five facilities, a pre-tax profit of £12.5m (2011: £13.9m) was made. Hallmark added that EBITDA before the profit on the disposal of the five homes had fallen from £10m to £8.7m and the net cash inflow from operating activities stood at £7.8m (2011: £10.4m). The directors described the report period as a satisfactory trading year’, saying operating profit from managing care homes fell by only 7.3% to £7.3m’. They said: On a like-for-like basis, there is an improving trend, reflecting natural growth arising from established homes, improved occupancy rates for homes opened in previous financial years and the opening of a new home during the current financial year.’