71WG Sanctuary 6.697

TIDM71WG

RNS Number : 4726A

Sanctuary Capital PLC

07 June 2016

Sanctuary Group and Housing & Care 21 set to merge

Leading housing and care providers Sanctuary Group and Housing & Care 21 have announced their intention to merge.

The merger will see the creation of a new operation within Sanctuary Group specialising in the provision of housing for older people, to be known as Sanctuary 21.

Sanctuary 21 will manage over 32,000 units of retirement and extra care accommodation for older people, as well as care and telecare services, making it a clear leader in the provision of housing and care for older people.

Sanctuary 21 will focus on meeting and promoting the needs of older people of modest means through high quality, affordable housing and services.

The combination of Housing & Care 21's specialism, Sanctuary's infrastructure and the financial strength of both organisations will mean a wider range of older people's accommodation can be offered across more locations, more efficiently.

It is intended that the efficiency gains and capacity created by bringing the two organisations together will be used to build at least 800 homes a year for affordable rent for older people of modest means as well as additional properties for shared ownership and sale.

Sanctuary 21 will be committed to enhancing the quality of housing and care for older people and demonstrating the value of court/scheme manager services, where there is a staff member offering support on site. It will also modernise existing retirement properties to meet contemporary standards and provide improved energy efficiency.

The merger will enable Housing & Care 21 to take advantage of Sanctuary's infrastructure including a leading SAP based ERP computer system, shared service centre, in-house maintenance operation and 24 hour response centre with assistive telecare services.

Sanctuary and Housing & Care 21 will be working together to plan the next steps to achieve a successful merger and ensure that benefits for existing and new residents can be realised as soon as possible.

Sanctuary Group Chair Jonathan Lander said: "Sanctuary Group has at its core two important charitable objectives: to provide affordable housing and to provide a choice of care and support services for older and vulnerable people.

"This merger is a natural fit for Sanctuary, complementing our existing older people's services and accommodation with Housing & Care 21's significant expertise."

Housing & Care 21 Chair Lord Ben Stoneham said: "The merger with Sanctuary will help further the core purpose of Housing & Care 21 to provide high quality housing and care services for older people of modest means.

"As a result of the merger we will be able provide many more homes, better services and make improvements far sooner than would have been possible as two separate organisations."

- Ends -

Notes to editors:

About Sanctuary Group

   --    Sanctuary Group owns or operates over 100,000 units of accommodation. 
   --    Sanctuary is an exempt charity and is regulated by the Homes and Communities Agency. 

About Housing & Care 21

-- Housing & Care 21 manages around 19,000 Retirement and Extra Care properties and provides around 78,000 hours of care each week.

   --    Housing & Care 21 is an exempt charity and is regulated by the Homes and Communities Agency. 

-- Housing & Care 21's purpose is to provide contemporary care and housing services and solutions to address the needs of older people of modest means.

About Sanctuary 21

-- Sanctuary 21 will be a new operation specialising in the provision of housing and care for older people.

-- The 32,000 units of accommodation, which will be managed by Sanctuary 21, do not include the 69 care homes that are managed by Sanctuary Care, another entity of Sanctuary Group.

For more information please contact Kate Reynolds, Group Head of PR and Communications on 01905 335359 or 07442 493008.

Follow @SanctuaryPR on Twitter for the latest news from across the Group.

For more information on Sanctuary Group please visit:

www.sanctuary-group.co.uk

For more information on Housing & Care 21 you can also visit: www.housingandcare21.co.uk

Follow us on Twitter: https://twitter.com/HousingCare21

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCAKODDNBKDQAK

(END) Dow Jones Newswires

June 07, 2016 09:24 ET (13:24 GMT)

Sanctuary 6.697 (LSE:71WG)
Historical Stock Chart
Von Nov 2024 bis Dez 2024

Sanctuary 6.697 (LSE:71WG)
Historical Stock Chart
Von Dez 2023 bis Dez 2024