Clydesdale finance deal to grow care home group

A care home operator has agreed a £12.8 million deal with Clydesdale Bank to refinance debt on three of its largest care facilities, as part of wider growth plans. H&H Care Homes has refinanced its Caledonia, Westerfield and Swny-mor developments in Scotland and Wales, which provide a mix of local authority and privately funded places for more than 240 residents.

The deal will enable the company to free up extra working capital, helping it to make further acquisitions in the sector, while raising the number of beds it operates, particularly in the Scottish healthcare marketplace where the business is eyeing growth, including new-build developments.