CM Company News

Chairman and interim chief executive of Four Seasons Health Care Ian Smith has called on councils to work with the government regulator to ensure that appropriate fees are paid in order to meet national standards.

Further US finance is flowing into the care sector after Wall Street investment firm Anchorage Capital Group took a majority stake in New Century Care (NCC). The New York-based firm will be a cornerstone investor in the operator after reportedly acquiring around £80m of debt from Lloyds Banking Group.

Craegmoor, part of the Priory Group of Companies, has acquired New Directions, a company providing specialist residential care and supported community living for individuals with Prader-Willi Syndrome (PWS) for an undisclosed sum.

Not-for-profit learning disability operator Creative Support has purchased Delos Community for an undisclosed sum. Delos provides residential care, community outreach services, supported living and daycare for people with learning disabilities. It will join the Manchester based charity’s network of homecare and supported living services, which it currently provides to 57 local authorities.

Health Care REIT is to increase its shareholding in Sunrise Senior Living Management Company from 20% to 24%. Canadian care provider Revera Inc will own the remainder of the business under the recapitalisation agreement, which is expected to be completed by this summer.

Care provider Agincare reported a turnover drop for the period from 28 July 2012 to 26 July 2013.

Lifeways, the UK market leading supported living provider, generated revenues of £121.3m (+5.7%) and EBITDA of £21.3m (+10.4%) for the year ending 31 May 2013, a spokesman for the company revealed.

Not-for-profit learning disability operator Creative Support has purchased Delos Community for an undisclosed sum. Delos provides residential care, community outreach services,...

Springfield Home Care Services, a provider of domiciliary care, reported a fall in profit for the year ending 31 March 2013 despite an increase in turnover.

High-end extra care village provider LifeCare Residences reported revenues of £14.4m for the year ended 31 March 2013, an increase of 39% on the previous year’s £10.4m. The vast majority of this income came from property leases (£11.9m) with the remainder generated through care services.