Healthcare group Community Hospitals has put its nursing homes business up for sale.
This side of the business comprising 15 nursing homes, a homecare branch and the close care complex, yielded flat profits for the six months ending 31 December 1996.
The group plans to concentrate on private hospitals. CH currently has 10, growth in which accounted for 27.7% increase in pretax profits.
Community Hospitals’ chairman Alan Dexter said: “Our hospitals are well placed to generate growing returns and we believe that the funds freed up from the sale of our prime nursing home assets can be redeployed in the hospitals sector to the further benefit of shareholders.”
EGi News 25/02/97
