CM Company News

Healthcare IT provider Coldharbour has signed a major deal with the not-for-profit older people’s charity and national homecare provider WRVS, in a move which sales director Mike Morton told CCMN will be the first of many deals the company is hoping to sign with third sector providers.

The UK’s second largest domiciliary care provider Carewatch experienced a slowdown in its revenue growth last year.

Specialist care provider Regard Holdings Limited has reported a period of mixed fortunes for the year ended 30 March 2012.

Shaw Healthcare experienced a marginal drop in turnover from £85m to £84.6m for the year ended 31 March 2013. The previous year’s revenues included £874,000 of income from deferred assets. After administrative expenses of £12.7m (2012: £9.9m), including a £3m impairment on tangible assets in respect of freehold facilities in Wraxhall and Pembroke Dock, operating profits fell to £6.9m (2012: £9.6m). The care provider, however, made a £617,000 profit on the sale of Cherry Orchard care home in Clevedon, North Somerset, which was closed during the year. Together with net finance charges of £5.7m (2012: £6.0m) this led to the operator recording a pre-tax profit of £1.9m (2012: £3.7m). The directors reported that overall occupancy of market beds reduced to 87% from 88% the previous year. They added: The group experienced lower occupancy levels in the early part of 2013/14 and, while we hope to increase occupancy in the coming months, we anticipate that profit before exceptional items in 2013/14 will be lower than in 2012/13. We continue to look for low-risk, low-capital intensive business opportunities to supplement our existing operations.’

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.

Retirement village operator the ExtraCare Charitable Trust has undertaken a £120m refinancing arrangement with Lloyds Bank Wholesale Banking & Markets.

Rumours spread throughout the care sector last month that Castlebeck, which is still reeling from the Winterbourne View scandal, is for sale (CCMn July 2011). Reliable sources informed CCMn that Castlebeck is on the market and advised that it is in the process of selling off its Young Foundation’s arm and its Mental Health Care homes in north Wales. There were early indications that Castlbeck was for sale in July (CCMn July 2012). At the time a spokesman refused to confirm or deny a sale and said: With supportive stakeholders and the advice and oversight of external regulators and other bodies we are continuing to reshape the business and fulfil the commitment to reform Castlebeck we made earlier in 2011. A number of well known and respected independent business advisory firms have been working with the company on this process since 2011.’

Residential care operator Community Integrated Care (CIC) reported a 2.5% rise in income for the year ended 31 March 2016 from a restated figure...

Four Seasons Healthcare Ltd, now the UK’s largest care home operator, reveals revenue of £478.8m in calendar year 2010 (2009: £460.7m) and underlying profitability (EBITDARM – Earnings Before Interest, Tax, Depreciation Amortisation, Rent and Management costs) of £126.6m or 26.4% of revenue.

CVC, the private equity firm which backs Saga, is said to be pulling together a £500m bid to buy sheltered housing provider McCarthy & Stone.