Gresham House has acquired New Century Care (NCC), an elderly care provider operating care homes across the UK, for $21 million.
The investment was made by Gresham House’s second flagship sustainability fund, BSIF II, in partnership with specialist care and education provider Salutem.
NCC currently provides care for nearly 300 elderly residents across six sites in the south of England and Scotland. Under its new ownership and management, its capacity and offer will expand, adding much-needed new beds and specialist care for the elderly care sector – where currently an estimated 1.4 million older people in the UK do not have access to the care or support they need. Future plans will also see quality of care enhanced, to ensure a higher acuity of needs, including specialist dementia care, are catered for.
Gresham House’s operating partnership with Salutem, one of the UK’s top 10 providers of specialist care and education, will ensure these investments deliver positive and responsible social impact. Salutem operates over 130 sites across England and Wales, covering 150 different funding bodies, with above-market levels of regulatory approval and staff retention.
