Provider BN Care has embarked upon a five-year expansion after a significant investment from capital investor BGF.
BN Care has already used the £3.4m investment to acquire a care home in Dorset. Currently, the provider operates three homes in the south of England - St Vincent’s in Bexhill, East Sussex, and two homes in Exeter: Hay House and The Dales.
The Dorset acquisition will increase BN Care’s total capacity of specialist nursing beds to 120. However, not wishing to rest on its laurels, the provider has stated its intention to build a portfolio of ten homes by 2028.
BN Care CEO Wade Newmark said: “We see a huge amount of potential in the range of strategic and financial support that BGF is able to provide and felt it was important to work with an investor that has a long-term approach to driving growth. The financial backing from BGF means we can accelerate our growth plans, supporting even more people in the region that need our services.”
Edwin Davies, BGF investor, added: “We are delighted to announce our investment in BN Care as it grows to meet the range of complex needs that are so in demand from older people across our communities. We are backing an accomplished and highly experienced industry leader in CEO Wade Newmark, who has a track record of providing high-quality services to the care home sector.
“Our investment will enable BN Care to build a network of specialist nursing homes in the South West region. We look forward to supporting the business with further funding and strategic support in the future as it expands its portfolio of homes.”