Business
Embrace's care home portfolio sold to Sanctuary
Embrace's care home portfolio sold to Sanctuary.
About this update from Christie Group Plc
[{"type":"text","content":"\n \nRNS Number : 4975I Christie Group PLC 19 June 2017 \n\n19 June 2017\nChristie Group plc(\"Christie Group\" or the \"Company\")\n \nChristie & Co sells Embrace Group's care home portfolio to Sanctuary Group\nChristie Group plc (CTG.L), the leading provider of Professional Business Services and Stock & Inventory Systems & Services to the leisure, retail and care markets, is pleased to announce that Christie & Co, its specialist provider of agency and advisory services, has successfully brokered the sale of a portfolio of 35 care homes on behalf of Embrace Group. \n \nIn one of the largest deals of the year so far in the sector, Christie & Co has sold the portfolio of predominantly purpose-built care homes to Sanctuary Group in an off market deal. The homes, based across the Midlands, North West, North East and Scotland are focused on both elderly residential and nursing care plus an element of specialist care, comprising a total of 1,650 beds and one supported living business.\n\nThe purchase by Sanctuary Group strengthens their national presence, particularly in the North and Scotland.\n\nMartin Gould, Head of Brokerage for Care at Christie & Co, commented; \"Having worked with Embrace over the past few years, this off market transaction is the culmination of our strong relationships. The sale demonstrates the strength and appetite for well performing portfolios that meet a strong compliance level.\"\n\nTrish Lee, Chief Executive Officer of Embrace Group said; \"Our priorities throughout have been to find the right organisation to take these services forward, and to ensure minimal disruption to the people supported and to the dedicated staff teams. Sanctuary Care shares our values of treating people with respect and dignity, and our commitment to providing the highest quality care and support. I would like to thank the team at Christie & Co for their expertise in helping Embrace and Sanctuary Care to navigate this process so effectively, with a real emphasis on minimising disruption for the people we support.\"\n\nDavid Bennett, Sanctuary Group's Chief Executive, said; \"Embrace Group shares with Sanctuary a commitment to good quality care for older people and has built a strong network of care homes with a workforce of highly motivated employees. We were attracted to this exc...