Landlord acquires care company for unknown sum
A Midlands landlord has acquired a domiciliary care company, enabling it to provide 3.5 million hours of home-based care each year.
Accord Group, which manages 11,000 homes, has bought Nottingham-based Direct Health Group for an undisclosed sum. The deal will see the housing group approximately double its health care turnover to £60 million a year, it claims.
Direct Health will continue to operate as an independent company under its existing management structure but will now become a wholly-owned subsidiary of Accord. It currently operates 18 branches across the Midlands, north east and north west regions and is the ninth largest provider of domiciliary care in the UK.
Accord also said the agreement will help it to create around 2,000 new jobs over the next three years, with no job losses. The move will create a combined workforce of around 4,500 people.
Chris Handy, chief executive of the Accord Group, said: ‘Our customers tell us they have a strong preference for receiving care in their own homes and in acquiring one of the leading providers in the UK, we are responding to this demand in a direct, logical and positive manner.’
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