71WG Sanctuary 6.697

TIDM71WG

RNS Number : 4825I

Sanctuary Capital PLC

19 June 2017

News release

19 June 2017

Sanctuary Group expands its care operations

Leading housing and care provider Sanctuary Group has expanded its portfolio of care homes, with the purchase of 35 residential care homes and a supported living scheme from Embrace Group.

The homes, which are largely in Scotland and the North East, will dovetail with Sanctuary's 68 existing care homes, which are mostly in the Midlands and South.

The 35 care homes currently operated by Embrace Group will bring the total number of bed spaces provided by Sanctuary Group to over 5,300.

Sanctuary Group's core charitable objective is to provide housing and care services for those who need it.

This acquisition helps the Group achieve that objective by expanding the high quality care services it already provides to many more people across the country.

The 1,800 staff members in these homes will become part of Sanctuary Group and will continue to deliver high standards of care to residents. Sanctuary employs around 11,000 people at present.

David Bennett, Sanctuary's Group Chief Executive, said: "Embrace Group shares with Sanctuary a commitment to good quality care for older people and has built a strong network of care homes with a workforce of highly motivated employees.

"We were attracted to this exciting opportunity because it will enable us to make an even greater difference to the lives of older people around the country and will further our charitable objective.

"We have assembled our existing care portfolio through a mixture of acquisition, development and self-build and as such, we have extensive experience of integrations of this nature.

"We believe that experience combined with a complete dedication to caring for older residents will ensure that these homes are seamlessly brought into Sanctuary.

"Sanctuary is committed to putting kindness at the heart of our care for older people, giving them and their families beautiful environments within which they can live fulfilled and happy lives."

Trish Lee, Chief Executive Officer of Embrace, said: ""We are delighted that these services will continue to deliver high quality care and support as part of Sanctuary Group. Sanctuary shares our values of treating people with respect and dignity and I'm confident these services will continue to thrive under its stewardship.

"Our priority throughout this process has been to ensure that the people we support, their families and loved ones, and the dedicated staff teams at each service are unaffected by this acquisition, and I would like to thank Sanctuary for its shared commitment to making this happen. I wish all the services the very best for an exciting future."

Martin Gould, Head of Brokerage for Care at Christie & Co who handled the sale, added: "This off market transaction crystallises the market and demonstrates the strength and appetite for well performing portfolios that meet a strong compliance level."

- Ends -

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