Latest news with #HCOne
BBC News
29-05-2025
- General
- BBC News
Over 350 cards for Birmingham woman's 100th birthday
A centenarian received hundreds of birthday cards in a "heartwarming" response to an appeal by her care home. Irene Weaver turned 100 years old on Wednesday with 370 cards from people in the UK and around the the lead-up to her milestone birthday, the staff at her care home in Roxburgh House, Cradley Heath, launched an appeal to make her day extra special. Nicola Oldham, the care home manager, said: "The look on Irene's face as she opened card after card was priceless – it's a birthday none of us will ever forget." Ms Weaver, who was born in Birmingham in 1925, celebrated her birthday with family, fellow residents, and dedicated care "overwhelming" response also saw a crew from West Midlands Fire Service making a visit to personally extend their well wishes. She moved into Roxburgh House in March, supported by her Oldham said: "From everyone here at HC-One's Roxburgh House Care Home, we want to thank everyone who wished Irene the happiest of 100th birthdays. "It's been truly heartwarming to see the outpouring of kindness from so many people near and far." Follow BBC Birmingham on BBC Sounds, Facebook, X and Instagram.
Telegraph
14-05-2025
- Business
- Telegraph
How Britain's pensioners became a major cash cow for private equity
Britain's burgeoning demand for later-life care has caught the attention of private equity investors looking to squeeze cash from wealthy retirees. In 2001, three quarters of the elderly care sector was outsourced and privately run, according to Nuffield Foundation research. Today, that has risen to 96pc. Researchers and critics have warned that private equity's growing role in the care sector could be leading to dramatic price increases for patients and a worrying drop in the quality of provision. Some 13pc of the sector was owned by private equity firms as of 2022, according to LaingBuisson, a healthcare consultancy. Since then, care home fees have risen by 27pc, with £1.5bn taken out of the sector in the form of shareholder returns. Three of the largest care home operators in recent years – Four Seasons, Care UK and HC-One – are or have been owned by private equity firms. The former, which at one point operated 500 sites home to 20,000 residents, collapsed into administration in 2019 – after the firm that invested in it was unable to repay its debt. Care home residents de-prioritised Private equity-owned firms differ from regular for-profit businesses. Under the private equity model, investment firms acquire stakes in companies – with the aim to improve them and maximise profit in order to increase their value before selling them for a premium. This can lead to private equity investors taking a relatively short-term approach when it comes to their businesses. But a short-term profit-maximising approach may not be compatible with an industry such as care. Private equity's growing role in the sector could have worrying implications for the cost and quality of care provision, as highlighted by a 2022 report from the official journal of the British Geriatrics Society. 'Unlike other for-profit homes, private equity firms generally have short-term business plans and face particularly high pressure to maximise the returns of the investment quickly before selling the assets. 'Such a business plan can potentially compromise on satisfactory care home quality in order to maximise profits. This short-run strategy not only de-prioritises the care home residents' wellbeing but also reduces the stability of care institutions in the market.'
