Meeting with Principal Landlords (9018E)
14 Abril 2011 - 6:30AM
UK Regulatory
TIDMSCHE
RNS Number : 9018E
Southern Cross Healthcare Grp PLC
14 April 2011
Thursday 14 April 2011
Southern Cross Healthcare Group PLC
('Southern Cross', 'the Company' or 'the Group')
Meeting with Principal Landlords
Southern Cross, the UK's largest care home operator, announces
that it has held a meeting with its principal landlords today to
discuss the financial restructuring of the business. A series of
proposals were outlined at the meeting which landlords are now
considering.
The meeting, attended by 20 of the Company's landlords,
representing 92% of its homes, clearly outlined all of the options
available to landlords. No decisions were made at this meeting but
there is a general recognition of the value to all parties of
moving forward to a solution in an orderly fashion.
Southern Cross reaffirmed that the provision of care remains the
priority for all parties and that the negotiation process has not,
and will not, compromise the quality of care Southern Cross
provides to its 31,000 residents.
Jamie Buchan, Chief Executive commented:
"I wish to thank our landlords for attending today's meeting and
I look forward to discussing the proposals further, in the weeks
ahead. Southern Cross firmly believes that it is in our mutual
interests to reach an equitable agreement with landlords. I am
encouraged by the constructive nature of negotiations to date and I
am confident that we will continue in that vein."
Enquiries:
Southern Cross Healthcare Group
PLC +44 (0)1325 351100
Jamie Buchan, Chief Executive
David Smith, Group Finance Director
Amy Kroviak, Director of Communications
Financial Dynamics +44 (0)20 7831 3113
John Waples/ Ben Brewerton
About Southern Cross
Southern Cross is, in terms of number of beds, the largest UK
provider of care home services for the elderly and a major provider
of specialist services for people with physical and/or learning
disabilities. The Group's care homes for the elderly operate under
two distinct brands: Southern Cross Healthcare and Ashbourne Senior
Living. Both brands provide a range of social and personal care
services and nursing care services for elderly people with physical
frailties and differing forms of dementia. The Group's specialist
services operate under the Active Care Partnerships brand and
provide long-term care services for people with physical and/or
learning disabilities and for younger people with complex forms of
challenging behaviour.
Southern Cross is focused on providing high quality care in well
invested facilities, seeking to be the home of choice in each local
community in which it operates. The Group provides care services
for most of the local authorities in the UK which, together with
the NHS, represent circa 78% of the Group's revenues. Its care home
portfolio is largely purpose-built with a high percentage of single
occupancy rooms and rooms with ensuite bathrooms.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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