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Latest Elaine Reay News

Health entrepreneur acquires second care home in 12 months

Jun 18, 2019

A North East care professional has completed her second care home acquisition less than a year after her first. Elaine Reay has acquired the Carntyne Residential Care Home in Hexham through her consultancy Resolve Care, just six months after her acquisition of the Langley House Residential Care Home in Horden near Peterlee. A trained nurse, Elaine has over 30 years of experience in the healthcare sector, and was approached in her capacity as director of Resolve Care about taking on the 19-bed property by its founders, the Sisters of Mercy in Sunderland. Elaine commented: “Carntyne has great facilities, terrific staff and a lovely atmosphere, and its position in the centre of Hexham means many of our residents can get out and enjoy what the town has to offer. “The Sisters rightly wanted to know that whoever took over the property would continue to look after its residents in the right way and we’re fully committed to doing just that.” Michael Cantwell of RMT Accountants & Business Advisors worked with Elaine on the acquisition, with legal advice provided by Craig Malarkey, partner in the corporate & commercial team at Tilly Bailey & Irvine LLP and advice on personnel matters by Michael Dobson of MD Advisory Services. Elaine intends to grow the business across the region through the acquisition of further care facilities, but maintains that she does “not want growth to compromise quality of care in any way”. She explained: “We’re looking for opportunities to acquire several more similar-sized properties to Langley and Carntyne, but want to stay within the North East, so that we can retain a hands-on, personal style of management and ensure that all our properties are always run to the high standards that our expert staff set. Commenting on the acquisition, Michael Cantwell, head of corporate finance at RMT Accountants, added: “Carntyne is a high-quality property that fits perfectly with Elaine’s experience and style of management. “She has the industry and commercial knowledge behind her to create a strong regional care home group and we’re very pleased to be using our own care sector expertise to support her in realising this ambition.” Looking to promote your product or service? Bdaily Marketing can help you reach a regional business audience. Request our latest Media Pack → Explore these topics

Elaine Reay Acquisitions

1 Acquisition

Elaine Reay acquired 1 company. Their latest acquisition was Langley House Residential Care Home on January 14, 2019.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

1/14/2019

$99M

Acquired

1

Date

1/14/2019

Investment Stage

Companies

Valuation

$99M

Total Funding

Note

Acquired

Sources

1

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