CM Company News

Sovereign Capital backed venture City & County Healthcare Group Ltd has expanded its operations with the acquisition of Springbank Community Care.

Bondholders have rejected attempts by Anchorage Capital Group to delay the sale of 270 former Southern Cross care homes, according to Titan Europe 2007-1 (NHP) Ltd in its role as issuer of securities.

Not-for-profit provider Anchor Trust experienced a small rise in turnover for the year ended 31 March 2014. At the year end, revenues stood at £265.8m compared to £264.8m the previous year. After operating costs of £247.5m were deducted (2013: £246.7m) Anchor recorded an operating surplus of £18.3m (2013: £18.1m). Due to a deficit of £1.6m on the disposal of housing properties, compared to a surplus of £8.2m the previous year, the operator’s surplus dropped from £21.8m in 2013 to £12.1m at the end of the report period.

Housing and care provider Sanctuary Group has acquired nine care homes in the Midlands from care property developer LNT Group.

Cambian has further expanded its services for children by acquiring independent fostering agency By the Bridge for £44m from Apposite Capital.

Four Seasons parent company Elli Investments Limited reported a difficult second quarter with turnover dropping by 3.5% to £172.9m from £179.2m at the same time in 2014. The operator attributed this to the business having 24 fewer care homes due to closures or disposals and eight less facilities under The Huntercombe Group brand.

Legal & General (L&G) has made further in-roads into the UK care home sector by granting the LNT Group a £51m, ten-year debt facility.

Colten Care experienced a 19% rise in revenues on its estate of 19 care homes for the year ended 28 February 2014 to £48.2m from £40.5m the previous year. After cost of sales of £30.1m (2013: £24.3m) and administrative expenses of £14.7m (2013: £11.5m) were deducted, the provider made an operating profit of £3.3m (2013: £4.8m).

WCS Care has announced it has become the first care home provider in England to receive five outstanding ratings from the Care Quality Commission....

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.