Sentimental Care Ltd has agreed a £5.4m re-finance package with Barclays including additional funds to invest and develop its residential care home portfolio.
Sentimental Care Ltd delivers care home services across three residential homes including two located in Somerset, Hamilton Park, Taunton and Horton Cross, Ilminster, as well as a home in the Brecon Beacons, which is to be extended.
The business provides care to the elderly and prides itself on maintaining a friendly and comfortable ‘home from home’ environment giving independence and choice to its residents in a secure, safe and professional standard of nursing care.
The funding package will allow further investment in the group’s care homes by increasing the number of beds by 18 as well as improving facilities for its residents.
David Aukett, Director at Sentimental Care Ltd, said: “The decision to move our existing business to Barclays was not taken lightly and at a time when there has never been as much demand for the provision of exceptional care. The new funding will assist us in the continued development of the company and with Barclays healthcare experience and knowledge it is a good fit to enable us to continue with our growth strategy over the next few years.”
Sentimental Care Ltd was founded in 2003 and is run and managed by David Aukett and Val Saunders. The Barclays deal was led by relationship directors Neil Chandler, Keith Herod, and Patrick Martindale.
Neil Chandler, Barclays Relationship Director for Healthcare, South West, said: “We’re pleased to be able to provide the management team at Sentimental Care Ltd with a full banking package. This deal demonstrates Barclays understanding of the sector and commitment to healthcare businesses and by having a focused industry specialism, it enables us to understand the current social and economic headwinds experienced by operators.”
Sentimental Care Ltd currently provides 99 beds across its three homes and employs 132 staff across the company.