To support our growth as a family-owned care home provider, we have agreed a long-term funding facility with the commercial arm of HSBC bank.
This is an important strategic move as it means we can continue to plan and deliver new homes to meet the requirements of the communities we serve.
The £41 million package bolsters our unique market position as the only UK operator to design, build and run its own private care homes, ensuring all are registered for nursing care.
Chief Executive Mark Aitchison said: “The facility enhances our solid, long-term capability, broadening our funding options as we commission our next home and look to build and open further homes in years to come.
“We are proud to have agreed such a facility at a time when the debt environment facing many care sector operators remains challenging.
“HSBC are supportive of our continued organic growth strategy. It’s a new relationship for us with a banking partner that clearly has an appetite for the private care home sector.”
Michael Harrison, Relationship Director at HSBC Commercial Banking, said: “Colten is a premier care home operator.
“We are delighted to be working with them as a new client and have put this funding facility in place over the course of the past year to enable the management team to drive company growth and future development.”