‘£36 Million Rubber Stamped For Care’

June 17, 2011 | By | 1 Reply More

 

 

 

 

Clydesdale and Yorkshire Banks have announced the investment of millions of pounds into the British Care Sector, which means the development of 530 new jobs and 455 extra beds.

This comes at the end of a week where care has received so much negative news and is excellent news for the care sector as a whole.

Hundreds of people, both young and old, are being given access to specialist care in residential homes after Clydesdale and Yorkshire Banks rubber stamped more than £36 million pounds of new investment. In the first half of 2011 six separate projects in the UK have had loans approved through Clydesdale and Yorkshire Bank’s national network of Financial Solutions Centres in a move which highlights the Banks’ ongoing commitment to the healthcare sector.

The projects to be taken forward include a new centre in Peterborough for adults aged between 16-65 living with neurological disorders including acquired brain injuries and strokes; through to a dementia unit for elderly patients in Birmingham. Clydesdale and Yorkshire Banks’ senior partner for healthcare, Derek Breingan said all six customers provided strong applications:

“The healthcare sector is a key market for Clydesdale and Yorkshire Banks and we are committed to both understanding our customers’ needs and providing them with specialist support as we help them realise their ambitions. Our own research* suggests six out of ten healthcare businesses will be seeking fresh investment this year and we are here to help turn those ambitious plans into reality.

“Already in 2011 we have invested more than £36 million in six businesses working in the care sector. Collectively the money will see 455 new beds open up to patients in need while also creating up to 530 jobs. Common to all the developments is an ambition to grow and more importantly to provide valuable services to local areas.

“We are here to help our customers take advantage of the opportunities they identify. Our in-house specialists know what our customers want and work closely with them to make sure we deliver what they need, when they need it.”

The six approved developments are:

 

  • Clydesdale Bank made £16.5 million available to PJ Care to help refinance existing lending and assist the company to develop its new 107-bed neurological care home in Peterborough. The development will create up to 180 jobs. The centre will care for adults aged between16-65 living with conditions such as Alzheimer’s, MS, spinal cord injuries and strokes.

Paul Moran, chief executive of PJ Care, said: “It’s great to get started and see the vision becoming a reality.  We are really looking forward to welcoming our first residents in spring 2012. Clydesdale Bank has been very supportive through their clear understanding of the challenges of providing development funding and also in making their local premises available to assist recruitment.”

  • Yorkshire Bank made £7.2 million available to Prime Life Developments Limited which is building a 137-bed care village at Peaker Park in Market Harborough. The development  will create more than 150 jobs and should open in Leicestershire this June. The centre will provide care for elderly people with dementia, nursing and residential needs.

 

 

 

Prime Life caption: From the left, Mick Starkey, Sue Taylor (both S&S Architecture) Jay Hairsine (Prime Life), Gail Fielding (Yorkshire Bank), Jason Edwards (Corporate Architecture), contractor Steve Brooker and Simon Van Herrewege (Prime Life).

  • Yorkshire Bank made £3.3 million available to the Belle Vue care home which is building a 43 bed extension at its existing premises in Middlesbrough. About 40 jobs will be created at the centre, which will cater for the young chronic sick as well as providing assisted living space for elderly patients.

Pictured: Bellevue: Pictured (L to R) outside new the extension at Belle Vue Care home, which opens this autumn are Dr Sushma Aquilla, Dr Dilip Acqilla, Yorkshire Bank Tees Valley FSC business partner, Richard Jackson and Yorkshire Bank Tees Valley FSC senior partner, Phil Empson.

  • Yorkshire Bank made £5 million available to Absolute Care Homes (Central) which is building a 68 bedroom home in the Erdington area of Birmingham. The development will create 160 jobs when it opens next year. The centre will provide specialist care for elderly people with dementia.

 

 

 

Pictured: Absolute Care Homes caption: From the left, Labour MP for Erdington Jack Dromey, Martin Pawar (Absolute Care Homes), Dr Jag Badial (Absolute Care Homes), John White (Healthcare Development Services), John Stockill (DWA Architects), Neil Reddington (Yorkshire Bank), Mark Hammond (Healthcare Development Services)

  • Clydesdale Bank is supporting Consensa Care Ltd to achieve its ambitious growth strategy to create more than 100 extra beds across its four homes in Stratford, Manor Park and Plaistow in East London and Ilford in Essex.
  • Clydesdale Bank has agreed a funding package with award-winning nursing care home provider Avondale Care Scotland Ltd.

The funding will support the family-run company as it diversifies its service offerings to include a comprehensive day care service and care at home support programme.  It will also provide security for the business as it embarks on a project to build a new care home in Fife. At present, Avondale provides 24 hour residential nursing care to 153 elderly people at its three care homes – two in Fife and one in Falkirk.

 

      Clydesdale Bank was established in 1838 in Glasgow and has a proud history of innovation and support for Scottish industry and communities as well as a significant presence in London and the South of England. Yorkshire Bank, which has a strong personal customer base and an extensive business capability in the North of England and the Midlands, was founded in 1859 in Halifax, West Yorkshire. With a combined network of 339 retail branches and 73 Financial Solutions Centres, both Clydesdale and Yorkshire Banks are members of the National Australia Bank Group.

      For more information: http://www.cbonline.co.uk/business/

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      Category: Business Transfer, Care Operators, Dementia Care, General Info, Local News

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      1. Bob OToole says:

        Having observed the behavior of large investment banks in the U.S. who exploit the most vulnerable elders, I hope that this does not repeat itself in the U.K
        Bob O’Toole
        President
        Informed Eldercare Decisions
        Dedham, MA USA
        http://www.elderlifeplanning.com

        “…on October 9, 2007 in this blog, we highlighted a New York Times article that revealed how Wall Street private equity firms had bought thousands of nursing homes and used complicated corporate structures to avoid liability when residents suffered from neglect.

        Now another study, just released last week confirms that the nursing home industry continues to decline, with the biggest impact felt by America’s poorest communities. (See the post below this one also with today’s date)

        “The homes often cut expenses and staff, sometimes below minimum legal requirements, to increase profit.” the Times reported. “These private-equity firms are unregulated and new to the nursing home market.”

        “Many worry that the top priority for these new owners will be profits, rather than providing the staffing and resources necessary to ensure top quality care for our loved ones. Private for-profits do have a wider range of behaviors than public for-profits. A private equity group can be more ruthless about profit than a public company.”

        “Frequently, they use complex corporate structures, separating the nursing home real estate from the operating companies and putting multiple layers of limited liability partnerships between themselves and the day-to-day operations of the nursing home.”
        http://elderplanner.blogspot.com/search?q=carlyle

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