CM Company News

Tunstall Healthcare Group Ltd, which provides telehealth and telecare services internationally, reported global revenue growth of 27% to £182.1m for the year ending 30 September 2012 (2011: £143.2m), additional revenues coming primarily from overseas acquisitions including American Medical in the States and STT Condigi in the Nordic region (£35.8m), but also with a pleasing contribution of £5.5m from organic growth of 9% in UK operations. Operating profit before amortisation of goodwill and exceptional items was £43.5m (2011: £37.3m), but after deductions of £26.7m (amortisation of goodwill on acquisitions) and £6.4m (operating exceptional items) Tunstall was left with operating profits of just £10.3m (2011: £11.1m).

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.

US health giant Universal Health Services (UHS) has acquired Cygnet Health Care for approximately £205m. The New York Stock Exchange listed company is understood to have fended off stiff competition from Priory and investment firm Weight Partners Capital to secure the deal.

Orchard Care Home’s parent company experienced a 30% increase in turnover for the year ended 31 March 2014. Orchard Care Homes.Com Holdings Limited reported revenues of £105.3m (2013: £80.9m), £76.9m of which was from existing operations (2013: £72.2m) and £23.2m from acquisitions (2013: nil). The figure also includes £6.1m from discontinued operations (2013: £8.8m).

Not-for-profit care home operator Anchor Trust reported a 1.5% rise in revenues for the year ended 31 March 2015 from £265.8m to £269.8m. Of this figure, £122.4m was from care home fees (2014: £121.9m) and £140m generated from retirement housing rents (2014: £134.9m). After deducting operating costs of £258.1m (2014: £247.5m), Anchor had an operating surplus of £11.7m, significantly less than the previous year’s £18.3m. The surplus for its retirement housing decreased by £1.5m to £28.2m (2014: £29.7m) with increased income from housing rent being offset by higher property maintenance costs, and higher depreciation costs. Its care homes, however, recorded an operating deficit of £0.2m, a decrease of £0.4m on 2014’s surplus of £0.2m.

In the year it was acquired by CBI Parent LP, homecare franchisor Bluebird Care Group reported revenues of £7.5m for the year ended 31...

Healthcare Homes recorded some growth in their financial statements for the year ended 30 September 2010, but ultimately came in with a loss for the year (after tax) of £1.7m (2009: £1.6m).

Sheltered housing provider McCarthy & Stone has begun a strategic review of its business and has appointed Moelis & Company as financial adviser to the board to assist with the review, reigniting rumours that the company will attempt a stock market flotation in order to pull itself out of continuing difficulties.

Sovereign Capital has entered in an exclusivity agreement to buy special education provider Hillcrest Care. It has been reported that the private equity house, which also holds stakes in Tracscare and City & County, has a bid of £80m on the table for the business.

The Healthcare Management Trust (HMT), which operates two hospitals and four care homes, reported a strong 12 months for the year ending 31 December 2012 with net incoming resources of £1.4m (2011: £10.7m, or £1.7m after removing the net income received from the disposal of its Claremont Hospital). The latter sold for over £9m.