Health entrepreneur acquires second care home in 12 months
A North East care professional has completed her second care home acquisition less than a year after her first.
Elaine Reay has acquired the Carntyne Residential Care Home in Hexham through her consultancy Resolve Care, just six months after her acquisition of the Langley House Residential Care Home in Horden near Peterlee.
A trained nurse, Elaine has over 30 years of experience in the healthcare sector, and was approached in her capacity as director of Resolve Care about taking on the 19-bed property by its founders, the Sisters of Mercy in Sunderland.
Elaine commented: “Carntyne has great facilities, terrific staff and a lovely atmosphere, and its position in the centre of Hexham means many of our residents can get out and enjoy what the town has to offer.
“The Sisters rightly wanted to know that whoever took over the property would continue to look after its residents in the right way and we’re fully committed to doing just that.”
Michael Cantwell of RMT Accountants & Business Advisors worked with Elaine on the acquisition, with legal advice provided by Craig Malarkey, partner in the corporate & commercial team at Tilly Bailey & Irvine LLP and advice on personnel matters by Michael Dobson of MD Advisory Services.
Womble Bond Dickinson advised The Sisters of Mercy with the disposal of the home, with partner and head of charities Emma Moody managing the transaction from the earliest stages and corporate solicitor David Ridley advising on the sale.
Elaine intends to grow the business across the region through the acquisition of further care facilities, but maintains that she does “not want growth to compromise quality of care in any way”.
She explained: “We’re looking for opportunities to acquire several more similar-sized properties to Langley and Carntyne, but want to stay within the North East, so that we can retain a hands-on, personal style of management and ensure that all our properties are always run to the high standards that our expert staff set.
Commenting on the acquisition, Michael Cantwell, head of corporate finance at RMT Accountants, added: “Carntyne is a high-quality property that fits perfectly with Elaine’s experience and style of management.
“She has the industry and commercial knowledge behind her to create a strong regional care home group and we’re very pleased to be using our own care sector expertise to support her in realising this ambition.”
Emma Moody, head of charities at Womble Bond Dickinson, concluded: “I am delighted that my team could support the Sisters in the sale of Carntyne, making their vision for its future a reality. We wish Elaine every success.”
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