Sunday, January 17, 2021

Healthcare group acquires Chesterfield residential care provider

Envivo Group, the specialist healthcare group, has added the management of 72 specialist adult healthcare properties into its growing UK portfolio following a significant acquisition.

The operations of Heathcotes Group Ltd has been sold to the Envivo Group as it expands its footprint in the specialist mental health and adult care sector.

Heathcotes, based in Chesterfield, is an experienced provider of residential care for adults with learning disabilities, mental health needs and associated complex requirements.

Shawbrook Bank supported the acquisition of Heathcotes by providing Envivo Group with a commercial loan facility.

Paul Hainsworth, Chief Executive at Envivo Group, said: “The acquisition of Heathcotes is an exciting next step for Envivo Group. It is a well-respected, high-quality care provider.

“We are looking forward to working with the Heathcotes management team to further enhance the quality and breadth of their operations as part of the wider Envivo Group family.”

Paul added: “Shawbrook’s belief in what we’re trying to do and their extensive knowledge of this sector were clearly key ingredients in their ability to commit to and deliver the funding we needed in such a short space of time. To go from initial discussion to committed funding in just 15 days is genuinely extraordinary and will only serve to accelerate and amplify the impact of this transaction.”

Envivo Group, which has a presence throughout England and Wales, was established to acquire and grow specialist care homes around the UK.

Claire Perman, Associate Director of Shawbrook’s Healthcare Finance team, said: “With an estimated 1.5 million people with learning disabilities in the UK, including over 800,000 adults, demand for best-in-class mental health care and learning disability facilities has never been higher.

“This is largely driven by the increasingly complex care needs and challenging behaviours exhibited by young adults ageing into adult services and stepping down from hospitals.

“The adult care industry in the UK – like much of the UK’s healthcare landscape – remains underfunded. By supporting ventures such as Envivo Group’s latest acquisition we are supporting the industry at a crucial time.

“This is an excellent opportunity to strengthen our partnership with a strong Group with an outstanding reputation in the specialist care industry. From enquiry to completion in just 15 business days is unprecedented and we believe this acquisition will complement the wider Group’s existing business by providing outstanding care and increasing geographical spread.”

She added: “A huge thank you to Addleshaw Goddard, our trusted legal advisor, on the transaction as the excellent work completed by them ensured the tight completion deadline was met.”

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