Clydesdale and Yorkshire Banks have underlined their commitment to the care sector with millions of pounds of funding for leading care businesses.
Safehands Corporation, a group of care companies which offer a variety of services, from domiciliary care and children’s day nurseries to running a specialist hotel in Blackpool for the disabled and their carers, received a £1.6million funding package from Yorkshire Bank’s Business and Private Banking Centre in Preston to help develop the businesses further.
Country Court Care, an East Midlands based provider of elderly care services, received a seven-figure funding package from Clydesdale Bank, Birmingham to assist with the purchase of Summer Lane Care Home in Weston-super-Mare.
Derek Breingan, Clydesdale and Yorkshire Bank’s head of healthcare, said: “We welcome the opportunity to help Safehands Corporation and Country Court Care, two well-respected operators, to expand their services.
“The importance of the care sector to the UK economy cannot be underestimated. With an ageing population care services will only increase in the years ahead and the sector will need to ensure standards are maintained while managing expansion plans.”
Among the services that Safehands plans to develop is Safehands Extra Care facility, a purpose-built independent living community located in Warton that offers tailored 24-hour support to four residents. Safehands intends to expand the model to further sites in Blackpool and other areas of Lancashire.
The funding will also enable the group, which has a turnover of about £6.5 million and employs more than 350 staff, to invest in its growing nursery chain.
Paul Manning, managing director of Safehands Corporation, said: “We’re delighted to be working in partnership with Yorkshire Bank to develop our businesses.
“We’re always open to investment, whether through offering new services or acquiring other businesses and replicating our high standards of care.”
Founded 30 years ago, Country Court Care, which is headquartered in Market Deeping, Peterborough, provides a range of services, from residential care to respite and domiciliary care. Following its latest acquisition, the group now operates 12 residential care homes across East Midlands, the East of England and Yorkshire.
The business has a turnover of about £15 million and employs more than 500 staff.
Abdul Kachra, CEO of Country Court Care, said: “As a business we are keen to grow but not at the expense of the quality of service we provide. We believe firmly in sustainable growth which is reflected in the high standards of care in all our homes as well as the financial stability of our group.
“Clydesdale Bank’s expert team understands our needs and supports our growth aspirations.”