Takare to spend pounds 25m bedding down in South
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.TAKARE, the nursing home operator, has committed pounds 25m to the construction of 750 beds in new developments in the south of England.
The group, which raised pounds 68m in a rights issue last September, has earmarked another pounds 50m to build accommodation for a further 1,400 beds. By 1995 it plans to be running enough space to house 8,000 elderly and physically or mentally disabled people.
The company made an official statement to the Stock Exchange on its expansion plans yesterday, following a dinner with investment analysts on Thursday. Takare was wary of falling foul of the tighter regime on financial disclosure.
Keith Bradshaw, chairman, said the company also wanted to give shareholders details of what it was spending the rights money on. Mr Bradshaw said some confusion might have been created because expansion was delayed by the introduction of Community Care reforms last April.
The reforms switch the responsibility for the financing of state-supported patients from the Department of Social Security to local authorities. Takare suspended some development of new beds to ensure the reforms did not precipitate a change of strategy.
Mr Bradshaw said: 'Our 1993 construction programme was deliberately back-end loaded to enable us to absorb the lessons of the Community Care reforms before making major investment decisions.'
Takare has concentrated on the north of England, the Midlands, Scotland and East Anglia. However, it is now penetrating the south-east of England - as a direct result of the Community Care reforms.
When healthcare was funded through welfare benefits, the same money was available to users regardless of location. Mr Bradshaw said this inhibited development in the South, where costs were higher. The new system allowed more flexibility.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments