Care home firm secures extra beds
One of Scotland's largest care home companies is to add 1,000 beds to its capacity over the next four years.
The Balhousie Care Group has secured almost £45m in funding from Santander and the Co-operative Bank.
It is to focus its expansion plans in Aberdeenshire, Fife, West Lothian and Tayside. It will also be upgrading its current homes.
The company, based Forfar, is run by Tony Banks who featured in The Secret Millionaire on Channel 4.
It currently has 21 homes with 725 residents.
Mr Banks, a Falklands War veteran, claimed the financing deal is one of the largest ever single investments in Scotland's care home sector.
"It will enable us to continue to set new standards for the industry," he said.
"The growing elderly population means new, modern facilities will be in ever-greater demand and by combining the very highest levels of care with unrivalled value for money, we're on course to increase the group's turnover to £45m by 2014."
News of the expansion and upgrading plan comes days after bad publicity for the company at one of its Tayside homes.
The Care Commission criticised the management over the treatment of an individual patient, and gave the lowest possible ranking in an inspection report of Moyness home in Broughty Ferry.
Following the commission's criticisms, Balhousie's management responded that it had already taken steps to tackle the findings of a draft report in June, expecting a more positive report at the next inspection.