Albion Ventures has invested GBP4.35m in Oakland Care Centre to set up a specialist dementia care facility in Chingford, Greater London.
Oakland has acquired a freehold site on which it will develop a facility catering for the needs of up to 45 residents suffering from dementia.
The facility is due to open in November 2011 and will employ approximately 50 staff under the supervision of an experienced care management team.
Emil Gigov, partner, Albion Ventures, says: “There are more than 800,000 people living with dementia in the UK and the long term demographic trends indicate that the demand for dementia care will double over the next 25 years. At the same time, there are very few quality care facilities addressing this growing need, especially in London. The Oakland Care Centre will provide high quality care in a first class setting, reflecting the latest thinking and treatments in dementia care.”
In keeping with Albion’s strategy for this sector, Oakland will be a high end facility and cater predominantly for privately paying residents.
Nick Allhusen, founding shareholder of Oakland Care Centre, says: “We were attracted to Albion Ventures because of their extensive experience in the healthcare sector and their philosophy of seeking to back quality businesses for the long term. We have worked closely with Albion in the past two years to identify the right development opportunities and we look forward to working with them in the future.”
Albion Ventures is currently raising GBP15m through the Albion Ventures VCTs Linked Top Up Offer, where investors have the opportunity to acquire shares in seven mature venture capital trusts.
