North Somerset care dispute to climax
North Somerset councils ongoing fight with independent nursing homes could lead to the authority being landed with a massive legal bill in much the same way as Pembrokeshire council was earlier this year (CCMN March 2011), according to the Registered Nursing Home Association (RNHA).
The self-pay sector: key market trend
LaingBuisson estimates that 167,000 or 41% of older or physically disabled residents in UK care homes received no state funding (apart from universal old...
Further set back for funding reforms
The Queens speech confirmed this month that there will be further delays to the reform of social care funding.
Craegmoor acquires New Directions
Craegmoor, part of the Priory Group of Companies, has acquired New Directions, a company providing specialist residential care and supported community Living for individuals with Prader-Willi Syndrome (PWS) for an undisclosed sum.
Chancellor’s spending review
Community Care Market News (News) July 2004 Chancellor Gordon Brown set out his three year spending plans as CCMN went to press....
New head for Joseph Rowntree Foundation
Campbell Robb has been appointed chief executive of the Joseph Rowntree Foundation (JRF) and the Joseph Rowntree Housing Trust (JRHT). Mr Robb will take up...
Sharp rise in staffing costs in 12 months – Knight Frank
Average staff costs in care homes have risen sharply over the past 12 months and now account for an average of 61.9% of total income, according to research conducted by property consultants Knight Frank. This compares to 57.6% the previous year.
SX homes boost Care UKs profits
Care UK Health and Social Care Holdings reported a 9.4% increase in group turnover to £487.5m for the year ending 30 September 2012 (2011: £445.7m). Most of this growth was attributable to the residential division following the addition of 1,850 beds from the failed Southern Cross portfolio at the end of 2011. Adjusted group EBITDA (operating profit plus depreciation), which is one of Care UKs preferred KPIs, increased by 8.6% to £49.3m (2011: £45.4m). After charging depreciation (£17.4m ), amortisation (£17.2m) and non-recurring items (£4.2m), operating profit was a narrowish £10.5m for the year (2011: loss of ££7.1m). And net financing expenses of £73.4m (2011: £68.8m) pushed the private equity owned company (backed by Bridgestone) well into the red again with a £62.9m pre-tax loss (2011: £75.9m). However, a tax credit of £9.7m brought the loss after tax down to £53.2m with the 2011 sum reduced to £64.4m following a tax credit of £11.5m.
Mixed fortunes for Life Style Care
There was mixed fortunes for two of Life Style Cares operating companies their results for the year ended 31 March 2014.
Welsh Assembly publishes neuro plan
The Welsh government published a consultation on proposals last month to help people with neurological conditions such as Parkinsons disease get the care they need.