LONDON, July 18, 2011 /PRNewswire/ --
Court Cavendish, the health and social care specialists currently retained as advisers to NHP, can today confirm provisional acceptance of the invitation to join NHP in setting up an operating company in order to put NHP's 249 homes currently let to Southern Cross onto a firm financial footing.
This new company will continue to rely on the existing Southern Cross staff who manage NHP's 249 homes and the back office services delivered by Southern Cross's existing infrastructure to ensure continuity of care and operations.
It is envisaged that Court Cavendish will have a stake in the ownership of the overall business, therefore removing one of the anomalies of the current structure and ensuring a further alignment of the interests of both the property company and the operating company.
Dr Chai Patel, Chairman of Court Cavendish, said today:
"Court Cavendish was proud to have been retained to work with NHP on the restructuring of the Southern Cross business and I can now confirm that we intend to join NHP in the formation of a new operating company and having a stake in the overall company.
"We hope that with our experience and the quality and values of our team, which is drawn from both the independent and public sectors, we can help bring an end to the uncertainty and worry of recent times.
"The needs of those who currently live in these homes, and their families and carers, are a matter of the greatest importance to all of us advising those involved in this challenging situation.
"I am confident that the necessary funding is in place to adequately launch a new company that will not suffer from the same problems of the past.
"We hope that this announcement is the start of bringing to an end the uncertainty that residents, their families and staff in all the homes have had to endure over the last few months.
"I can also confirm that in due course I will be making statements on how a significant proportion of any equity that I hold in the overall company will be put into a charitable foundation.
"In the coming years we will work towards building a high quality integrated health and care services company. The country cannot afford another company to go through what happened to Southern Cross. We are totally focused on ensuring that we have a seamless transition."
Notes to Editors
- Court Cavendish Limited was re-established in 2007 by Dr Chai Patel and David Spruzen to deliver lasting operational and financial turnarounds of social care and health care organisations.
- The Court Cavendish team draws on a wide range of skills and has a track record of multi-site operational and financial turnarounds in the social care & health care sectors with a deep knowledge and experience of working with residents & service users and their families, local authorities, health teams, regulators and central government.
- Court Cavendish team members have in their previous roles established and run some of the UK's largest quoted and private health and social care companies including CareFirst, Westminster Health Care and the Priory Group, within which they have delivered significant quality enhancement, operational turnaround, organic growth and financial improvement.
Court Cavendish Principals
- Dr Chai Patel, started his career in the NHS and as Chairman has over 20 years of experience leading organisations in the sector, has supported Government in the development of social care policies and has a track record of turnarounds and organic growth.
- David Spruzen, Chief Executive, has significant experience leading organisations in the sector and a track record of operational and financial turnarounds and restructurings for complex multi-site businesses.
- Robert Lewis, Local Authority & Government Relationship Director, has 30 years of experience leading both local authorities and private sector providers of social care and health care services. He also has a track record of turnaround of quality, service provision and relationships with local authorities, regulators and central government.
SOURCE Court Cavendish Ltd