PARK LANE HEALTHCARE ARRANGE
NEW FINANCE FACILITY FOR OVER £18 MILLION

• Finance provided by Santander Corporate Bank’s specialist Healthcare team 

York - based Park Lane Healthcare, has arranged an £18.3m million facility to acquire the freehold of five of their existing care homes, with funding provided by Santander Corporate Banking managed by the bank’s specialist healthcare team. In addition, the facility also enabled the group to refinance a further care home within its portfolio and make significant improvements to its facilities.

Founded in 2004, Park Lane Healthcare is one of the North of England’s leading healthcare providers, specialising in care of the elderly. The company, which manages eight homes, has arranged a term loan with Santander Corporate Banking secured by a number of the company’s quality assets.

Commenting on the new facility, Chris Mitchell, Managing Director at Park Lane Healthcare said: “This agreement enables further expansion for Park Lane, as well as enabling us to further improve the quality of the service we offer to our residents.  Park Lane has always taken a prudent financial approach to business and this is proving to be a considerable commercial advantage in the current economic climate.

“This is the first time we have worked with Santander Corporate Bank and we have been very impressed by the support and the time Santander has taken to really get to know us, our business and financial needs. The fact that the bank has a specialist healthcare team who know and understand the Healthcare sector proved very helpful, and enabled us to put this agreement in place in a very timely manner.

“We intend to continue working very closely with the Healthcare team at Santander to pursue other suitable opportunities in the very near future, as we seek to further strengthen our market presence in the North of England’’.

Dasos Kirtsides, Director of Education, Health and Communities at Santander Corporate Banking said: “I am delighted that we have been able to support Park Lane Healthcare.  The company has a solid track record providing a high quality service to over 350 residents in the North of England and this together with a strong, realistic strategy for the future make them an ideal customer for the bank.

“Santander Corporate Banking is committed to building strong relationships based on an understanding of businesses and their needs, providing solutions and services that fit those needs, and our agreement with Park Lane Healthcare is an excellent example of this.”

For further information on the range of services available to organisations operating in the healthcare sector, business owners or finance directors should visit Santander Corporate Bank’s website www.santandercb.co.uk and contact a member of the bank’s specialist healthcare team.
 
For further information on Park Lane Healthcare, please visit www.parklanehealthcare.co.uk.