SCHE -3x Short China

TIDMSCHE

RNS Number : 0825S

Southern Cross Healthcare Grp PLC

15 November 2011

14 November 2011

Southern Cross Healthcare Group PLC

("Southern Cross", "the Company" or "the Group")

Corporate Update & Directorate Change

Southern Cross announces that, following receipt of regulatory approvals, a further 24 care homes have today transferred to new operators bringing the total transferred since 30th September to 743. The process of operational wind down is now substantially complete and the remaining 5 operational homes are expected to transfer in the next four weeks following receipt of regulatory and legal clearances. There are 4 non-operational homes that will also transfer during this period.

The Company also announces, as previously indicated, that Jamie Buchan, Chief Executive, will step down from the business on 15th November.

The Board expresses, on behalf of all stakeholders, its appreciation to Mr Buchan for his leadership of the Company since January 2009

Stephen Taylor, acting Chairman of Southern Cross, said:

"The last few months have been a difficult time for all the stakeholders including residents and employees. Jamie's leadership and clear focus on the need to provide continuity of care to vulnerable residents has made an important contribution to the successful transfer of homes to new operators during this period."

-Ends-

Enquiries:

 
Southern Cross Healthcare Group 
 PLC                                        +44 (0)1325 351100 
--------------------------------------  ---------------------- 
 
Amy Kroviak, Corporate Communications 
--------------------------------------  ---------------------- 
 
 
FTI Consulting                   +44 (0)20 7831 3113 
----------------------------  ---------------------- 
John Waples / Ben Brewerton 
----------------------------  ---------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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