£3.3m refinancing package for care home operator
A care home group with the bulk of its estate situated in the North West has received a £3.3m refinancing package.
We Care Group was awarded the financial fillip from alternative lender to mid-sized SMEs, ThinCats.
The homes provider is based in London, but nine of its 15-strong property portfolio are situated throughout the North West, including Liverpool, Preston, Southport, Wigan and Blackpool.
We Care Group acquired its first care home in 2007 and has built up its estate which now provides 730 beds across the North and North West of England and employing more than 650 staff.
The homes provide a range of care needs for both long-term and respite periods including nursing, residential, palliative, end of life, dementia, bariatrics and young mental health care.
Wes Hodelin, director of healthcare finance at specialist healthcare broker MAF (Midlands Asset Finance) Healthcare, introduced the team at We Care Group to ThinCats to arrange the funding package.
Bernie Suresparan, founder, We Care Group, said: “We are passionate about providing exemplary standards of care to our residents, and this funding is critical in enabling us to continue with our ambitious improvement plans.”
Wes Hodelin said: “Bernie’s knowledge as an experienced operator and Richard’s knowledge as an experienced healthcare financier made the whole process smooth and efficient.
“Their passion for a sector that supports our most vulnerable is palpable and working with them has been an absolute pleasure.”
Richard Henshaw, director, national development healthcare, ThinCats, said: “Bernie knows the care home industry inside out, and is surrounded by an extremely impressive team of experienced staff.
“It is a pleasure to support the business with this funding, and to be able to watch them continue to develop and improve the homes under their umbrella.”