- Type of finance
- Business need
Buying a business
“The open and transparent approach of the team from the Development Bank made the process seamless; they listened and took real interest in our aspirations for White Rose and future plans for Banyan Care. Their support means that we’ve been able to safeguard services for residents and protect 42 jobs.”
With extensive experience in specialist dementia and elderly mentally infirm (EMI) care, Mr and Mrs Seehootoorah established Banyan Care Homes Limited to purchase White Rose Care Home in New Tredegar from care provider Larchwood Care.
White Rose is a purpose-built care home registered for 32 residents over the age of 65, including those with dementia. It was built in 1990 and occupancy rates are typically over 95%, with the majority of residents being publicly funded by local authorities including Caerphilly, Blaenau Gwent and Vale of Glamorgan.
The loan from the Development Bank of Wales enabled Banyan Care Homes to safeguard the jobs of the 42 staff who provide 24/7 care and retain the same manager who had been integral to the successful running of the care home for the previous owners. It also ensures continuity of care for residents within the local community.
Read the press release to find out more.