Puma invests £11m in Abbey Healthcare
Limited-life venture capital trust (VCT) Puma Investments has invested £11 million to develop two care homes operated by Abbey Healthcare, HealthInvestor can reveal.
The investment will be used to develop and initially operate two new care homes in Scotland and England.
Puma invested £6 million to develop a 112-bed Abbey Healthcare care home based in Hamilton, Scotland.
The second investment, worth £5 million, will go towards the development of a 60-bed care home in Mill Hill, London.
Both developments will have en suite wet room facilities.
Eliot Kaye, investment director at Puma Investments, said: “We have been involved with a number of investments in the care home space, and are delighted to be working with Abbey Healthcare which is well established and a highly regarded operator in the sector.
“These deals fit well with our investment strategy of seeking to mitigate risk by ensuring our investments are asset backed and, we believe, will offer an attractive return for our investors.”
Puma Investments is part of investment group Shore Capital. Its 11th limited-life VCT raised £30.6 million in 2014-15.
Abbey Healthcare currently operates a portfolio of 16 care homes with 1,279 beds across the UK.
Click here to read the article on the Health Investor website.