A Chesterfield-based healthcare provider has agreed a £20 million expansion plan which will double the size of their business which specialises in providing care homes for adults with learning disabilities.
The deal by Heathcotes Group, which combines finance from a leading high street bank together with debt funding and working capital, has been agreed on behalf of the Group by Mitchells Chartered Accountants and Business Advisers.
With more than 30 care homes and around 800 full-time staff, Heathcotes already has a strong presence in Leicestershire, Nottinghamshire, Derbyshire, Staffordshire, Lancashire, Cheshire and Yorkshire.
But it is now targeting cities such as Manchester and Birmingham for further growth. The Group plans to add a further eight care homes to its expanding portfolio in 2015 alone, with more scheduled in 2016 and 2017.
David Harrison, CEO of Heathcotes Group, said: “Since founding the business 12 years ago we have successfully built a strong reputation across central England for delivering high-quality, purpose-built facilities for our residents. We have an excellent relationship with Mitchells and their understanding of our ethos, expansion plans and our approach to the care sector makes them a valued business partner.”
Tony Hornsby, partner at Mitchells, added: “We have worked together since the acquisition of the first home in 2003. We have a fantastic relationship with the group and their rapid growth since incorporation is testament to their commitment to excellence in care.”