Care homes group buys up rival firm (From Daily Echo)

Care homes group buys up rival firm

9:39am Tuesday 6th May 2008 in

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CARE home group Contemplation has bought Hampshire rival Denehurst for an undisclosed sum.

Denehurst's three New Milton learning disability homes bring Contemplation's total number of homes to ten with more than 200 occupied beds.

The deals in New Milton complete a series of acquisitions which began with the purchase of Southlands Nursing Home in Havant in June last year - all backed with funding from the Royal Bank of Scotland.

The Denehurst group consisted of the Fiveways, Deerhurst and Denehurst homes - a total of 17 specialist beds.

Established in 2003, Contemplation now owns and operates five care homes in the Portsmouth area, one in the New Forest and another in Bedfordshire, as well as the three new additions in New Milton.

The firm started with two homes in Waterlooville and Horndean before, in 2005, further funding was provided for a move to snap up the Provincial Care Homes Group, which comprised three homes. At the same time bosses moved to buy Woodlands Ridge Nursing Home in Ashurst in the New Forest.

Clare Norris, managing director of Contemplation Group, said: "The management team is delighted with the acquisition of the learning disability homes and looks forward to upgrading the facilities to improve the lives and the environment of the residents with financial backing from RBS."

Christopher Mann of RBS added: "Contemplation has been very successful in growing the business from a standing start in 2003 to being a premier independent provider of healthcare in south Hampshire.

"The management team has demonstrated strong business acumen and has achieved an impressive track record."