Matrix looks for a way forward
Article Abstract:
Matrix Healthcare is a nursing home operator which has reported a pre-tax loss for the half-year to Mar 1998. The company planned an acquisition which did not materialise, and costs were incurred. Operating profit and turnover have performed well, but the company took on debt in order to fund three acquisitions in 1997. Occupancy levels dropped to 86% from 88% in 2nd qtr 1997 to 1998, but this has been remedied. The company could sell real estate assets and lease them back, but this would mean rents hiugh than the depreciation charge.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1998
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Care UK: back to health
Article Abstract:
Care UK was previously called Anglia Secure Homes and was initially involved in sheltered housing. The company was affected by the early 1990s recession and set up Haven to market nursing services for its clients and later to local government. The company did not start work unless long term contracts were forthcoming and has prospered in the nursing services market. Care has moved out of sheltered housing to specialize in care. The company has 800 beds with a 99% occupancy level and plans to add an additional 600 beds.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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CrestaCare: taking care of business
Article Abstract:
CrestaCare is a UK nursing home concern which has seen a drop in its share price in the two years to 1995. The company acquired Scotcare in Jul 1995, and ScotCare's chief executive is taking charge of CrestaCare following the removal of Andrew Taee, CrestaCare's former chief executive. The company will be able to cut costs and aims to boost occupancy rates by focusing in specialist services and private patients. CrestaCare chares are recommended for investors in Sep 1995.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1995
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