CARE-HOME BOOM

AXA Investment Managers — Real Assets completes the acquisition of 10 purpose-built care homes consisting of 600 beds and 52 independent living units. It is to partner with the largest operator of nursing homes in the Irish market — Mowlam Healthcare.

Nursing home group Carechoice has kicked off a €100m investment plan that will see it build and acquire new homes across the country. It has drawn up plans to build three new nursing homes — one of which has already started — as well as building major extensions at six of its existing homes.

British-based venture capital fund BGF invests €10m into nursing home operator Brindley and last week appointed former health minister Mary Harney to its board.

321 (50pc) of the private and not-forprofit nursing homes in Ireland have less than 60 beds, with 33pc of these with less than 40 beds, according to Bank of Ireland research.

That research estimates that up to 2,300 nursing home beds may be decommissioned over the next 5 years because they are at the end of their life cycle.