Shares digital

Care home operator Southern Cross Healthcare (SCHE) has boosted the number of homes and beds it operates to 727 and 37,080 respectively, following a spate of acquisitions.

The group has bought the leases of three purpose-built care homes in England, with a total of 195 beds, for what it describes as ‘a nominal consideration’, and has also acquired a new 62-bed purpose-built home in the Wirral. In addition, the company has divested the freehold interest in a large care home in Harrogate for £14.3 million. Since 1 October 2007, Southern Cross has increased total registered beds by 8.1%.

Further good news came after the recent settlement for care home fees for 2008/09 in Scotland, which, as of 1 April, will result in a 4.4% hike in fee rates for the 5,548 beds Southern Cross currently operates in the country. The shares in the company ticked up to 356.5p but are still leagues off their high last year over 600p.

Shares says: Continuing to expand rapidly, boding well for the future. by Rachel Robson