Domestic healthcare group seals funding deal
A DOMICILIARY care services business with operations in Merseyside and Yorkshire has agreed a seven-figure funding deal.
Optimo Care Group which provides homecare services for more than 500 poeople a week in Sefton and the Wirral, has agreed a £1m refinancing deal with Santander, comprising a term loan and working capital facilities.
Optimo employs more than 650 care and support workers and operates from a number of office locations across the North through its subsidiaries Warrencare and TLC Homecare. Founded in 2010, it offers home-based care solutions including: homecare, domestic help, home respite, learning disability, supported living, support for children and families, as well as specialising in dementia support.
Optimo’s chief executive Richard Walker said: “Despite the continued funding pressures within the social care market, we have delivered consistent growth in our high quality care services.”
Optimo, which has a base at Crosby on Merseyside was founded in 2010 by Mr Walker and entrepreneur Mark Hales, owner of TheBusinessDesk.com. The pair previously worked together in building up Hales’ Clairmar Care business.
Paul Turner, relationship director at Santander’s healthcare team said: “Optimo is a well-established business with many years’ experience of providing domiciliary care services. It has great potential and we were happy to be able to arrange funding to enable it to continue to grow as part of its strategic plans.”
A team from Grant Thornton’s corporate advisory team advised Optimo on the deal.
