BN Care secures £3.4m investment from BGF
Care home group BN Care has announced its intention to more than double its offering in the South of England following a £3.4 million investment from BGF.
The group, which has managed three care homes since 2017 including St Vincent’s in Sussex, has acquired a fourth home in Dorset using the BGF investment along with additional funding from HSBC, taking its combined capacity of specialist nursing beds to 120.
Already employing more than 100 staff, BN Care is aiming to take on another six by 2028, bringing its total number to 10, as it responds to the challenge of an aging population with increasingly complex healthcare needs.
The investment was led for BGF by investors Edwin Davies and Chris Jones.
BN Care CEO Wade Newmark said: “Our care homes offer a range of high-quality services from end-of-life support to specialist dementia care. Importantly, all of our homes are rated ‘Good’ by the Care Quality Commission.
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“We see a huge amount of potential in the range of strategic and financial support that BGF is able to provide and felt it was important to work with an investor that has a long-term approach to driving growth.
“The financial backing from BGF means we can accelerate our growth plans, supporting even more people in the region that need our services.”
Dr Mark Jackson has also been appointed as a Non-Executive Chair at BN Care as the result of an introduction from BGF’s Talent Network, which is the UK’s largest pool of non-executive directors.
A qualified GP, Mark brings substantial healthcare industry experience and expertise to BN Care following roles as chairman of the board of BGF portfolio company Medigold Health and deputy chairman of Allied Healthcare.
BGF investor Edwin Davies said: “We are delighted to announce our investment in BN Care as it grows to meet the range of complex needs that are so in demand from older people across our communities.
“We are backing an accomplished and highly experienced industry leader in CEO Wade Newmark, who has a track record of providing high-quality services to the care home sector.
“Our investment will enable BN Care to build a network of specialist nursing homes in the South West region. We look forward to supporting the business with further funding and strategic support in the future as it expands its portfolio of homes.”
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Featured image: iStock
