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HC-One homes' Chai Patel on elderly care issues

6 December 2011 Last updated at 15:05 GMT

The entrepreneur behind HC-One, which took over running a third of Southern Cross homes, said the crisis over elderly care was serious.

Chai Patel, that the "funding contraction" was only going to get worse over the next two or three years but added: "I don't think Southern Cross will happen again."

He spoke as MPs warned there could be a repeat of the Southern Cross collapse, unless more is done to monitor the financial health of companies which house the elderly.

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