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St George Healthcare Group Future Developments

St George Healthcare Group has agreed a £33m loan facility that includes a £5m development loan to build a new hospital in Liverpool supported by Barclays.

The group, which currently provides more than 100 beds across facilities in Warrington, Oldham and Chester, has secured funding that will enable it to start building a 37-bed hospital on its Huyton site at a cost of £6.5m in the next 12 months.

The care provider also plans to extend two existing hospitals to add a further 17 beds.

Dr Naser Fouad, chief executive of St George Healthcare Group, said: "We specialise in providing high-quality care to service users with complex conditions and we constantly reinvest to ensure all our hospitals provide uncompromising comfort and excellence in care.

"We are committed to providing the highest possible quality of patient-centred care that respects the rights for dignity, privacy and individuality. The new hospital in Liverpool will be a great addition to the group providing high-quality facilities whilst at the same time ensuring that we retain the values and ethos on which our reputation has been built."

Sean Askham, relationship director for corporate banking at Barclays in Merseyside, said: "This deal facilitates ongoing financing for the existing portfolio of sites, whilst also funding the development of a new specialist hospital, further diversifying the group's service offering.

"The transaction therefore represents the addition of new beds, recognising a market requirement, plus the creation of a considerable number of new jobs in the Merseyside area

Read the article here: http://www.insidermedia.com/insider/northwest/healthcare-group-agrees-33m-facility?utm_source=liverpool_newsletter&utm_campaign=liverpool_news_tracker&utm_medium=deals_article

23/10/2015