Seven-figure funding deal secures fourth acquisition for care operator

A SEVEN figure banking deal has helped a fast-growing care operator add a fourth site to its stable with its latest acquisition.

Strong Life Care, which provides specialist residential care for the elderly and those suffering with dementia, has acquired Highstone Mews Care Home in Worsborough Common, Barnsley, adding to its existing homes in Barnsley, Wakefield and Newark in Nottinghamshire.

The purpose built home comprises of 60 en-suite bedrooms over two floors as well as communal areas such as a hairdressing salon, a sensory room and activity rooms.

Strong Life Care currently employs more than 240 members of staff across its homes and has created 16 new jobs, including a deputy nurse manager and a clinical lead nurse, as part of the acquisition.

Harpreet Banwait, managing director at Strong Life Care, said: “In line with the ageing population, demand for high-quality accommodation is rising.

“In adding Highstone Mews to our growing portfolio, we are able to respond to this demand and provide local families with access to the highest standard care services.

“The funding Lloyds Bank has provided over the past couple of years has been integral in helping us pursue our expansion strategy. We look forward to continuing our relationship with the bank as we work towards achieving our 700 bed milestone within the next five years.”

David Ingleson, healthcare relationship director at Lloyds Bank Commercial Banking, said: “The new site is a great addition to the area, providing much needed care services as well as employment opportunities for the local community.

“At Lloyds Bank we have a dedicated team of healthcare relationship managers who have an extensive knowledge of the sector and are able to provide tailored support to help ambitious businesses, like Strong Life Care, achieve their ambitions for growth.”