Albion Ventures has made a GBP6.4m investment to fund the creation of a 62 bed hospital offering long-term care to NHS patients in the Somerset area.
The investment follows research from Albion Ventures that identified an area of under provision in this type of care and in particular in the South West of England.
The current site, a nursing home in Taunton, Somerset, will be refurbished and extended and then re-classified by the Care Quality Commission as a hospital to provide “slow stream” rehabilitative care for NHS patients.
Planning permission has been granted for a further 27 rooms on the unit with work due to start immediately and take ten months to complete.
Albion Ventures has partnered with Dr Oliver Sargent, managing director of care home operator Beagle Healthcare. He will work with Albion Ventures to build up a hospital group.
David Gudgin (pictured), partner at Albion Ventures, says: “We believe that there is a strong market for the independent hospital sector, a view which is supported by the Lead Commissioner in Somerset who stated that they favour commissioning beds in the private sector for such care. We are confident, as we have a great new team in place, that this is the first building block in a group of hospitals supported by Albion Ventures.”
Sargent adds: “We have a fantastic opportunity to create something special in Somerset that will enhance the lives of patients as well as add value to the site.”
