Real estate developer and investment company Simply UK has launched its new Portland Care Group with a multi-million pound acquisition of six care homes.
In the last two years, Simply UK has invested £750m in care home acquisitions and new developments. It aims to have 60 care homes and 4,000 beds under its ownership by 2026.
The deal to acquire Horizon Care Group and its six homes was funded by offshore funder Gazcob and French real estate investors Pierval Sante. Simply UK already owns Scottish care home group Morar Living.
Horizon Care Group has 498 beds in total across Sheffield, Pontefract, and Worksop. Two development sites are also included in the deal. All 511 Horizon staff will transition to Portland Care Group.
Neil Dobbie, land director of Simply UK, said: “The launch of Portland Care Group and the acquisition of these six homes marks the start of an exciting new phase in our growth strategy and underlines our ambition to become one of the largest quality care providers in the UK.
“Simply UK’s business plan will add between 800 to 1,000 beds every year to our portfolio and with excellent relationships with funders and confidence in the brand, we are confident that this is not overly ambitious.
“We will grow the Portland Care Group and Morar Living brands in tandem, with a combination of strategic acquisitions of existing care providers and developing new-build sites in areas where there is a clear demand for the highest quality of care.
“Horizon was a well-respected care home provider and under the Portland brand there will be a seamless transition of customers and staff, with substantial funds available to improve the offering and to take it to another level. Working in partnership with the Care Quality Commission, our expertise, skills set and high standards, will ensure residents benefit from exceptional quality of care.”