Care home group secures healthy investment

A North East healthcare provider is investing in future growth following a refinancing deal.

Aspire Healthcare has secured significant funding from Barclays UK Corporate Bank to refinance eight residential care homes across the region. 

Founded in 2007 and led by managing director Anoop Puri, Aspire delivers person-centred care across its sites, in people’s homes, and on behalf of local authorities.

Now operating from 17 sites across the North East, Aspire, which recently expanded with the acquisition of two pharmacy businesses, offers specialist services for adults with learning difficulties and mental health conditions.

Anoop said: “Aspire is growing both in terms of our physical sites and also in relation to the range of specialist services we offer our clients. 

“We’re about to launch a new app which will enable customers to quickly and easily order repeat prescriptions for delivery and are looking to further expand our work with NHS and social services commissioners.” 

Newcastle-based law firm Sintons advised on the deal, with real estate partners Alok Loomba and Jane Meikle, alongside solicitor Nathan Johnson, overseeing the transaction. 

Alok added: “This was a multifaceted deal which involved close liaison with both the client and lenders. 

“We have extensive experience in the healthcare sector so were able to complete the deal quickly, unlocking finance for Aspire and supporting this business, which does such important work in our community, through its next stage of growth.” 

Sally-Ann Cain, relationship director at Barclays UK Corporate Bank, added: “We are delighted to have worked with Aspire in delivering this refinancing deal to support their future growth plans. 

“Our new relationship has been built on a shared understanding of and commitment to this important sector, and we look forward to continuing to work together in the months and years ahead.”

Mark Nixon, managing director at specialist real estate debt adviser Finance 55, brokered and advised Aspire on the funding deal. 

Mark added: “Finance 55 is proud to have acted on behalf of Aspire Healthcare in securing a substantial funding package to support the company’s ongoing growth and commitment to delivering high-quality care. 

“As one of the region’s leading healthcare providers, this financing marks an important milestone in Aspire’s continued expansion.”

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