Care provider Springfield Healthcare is set to open a new £800,000 supported living development in Hartlepool, a unique concept designed to enable young adults with learning difficulties to live independently in the community.
The ‘Pathways to Independence, Independent Supported Living Scheme’ facility comprises five, two-bedroom apartments and a further single bedroom apartment, along with a ground floor drop-in centre with a TV area and kitchen facilities, and staff available 24-hours a day. Located close to shops and amenities, it provides a halfway step for young people, preparing them for living independently in the community. The property, the historic Co-operative building on Park Road, is Grade II listed.
The project was backed by growth capital provider, BGF (Business Growth Fund). The funding follows BGF’s initial injection of £4.4 million into two businesses within the Springfield Healthcare Group in 2012: Springfield Homecare and Seacroft Care Village.
BGF is the UK’s leading independent investor of growth capital in UK smaller and medium sized businesses, and is backed by five of the UK’s main banking groups. The company provides long-term equity investment in return for a minority equity stake.
Springfield Healthcare Group, was founded in 1967 and today is one of the largest independent providers of domiciliary care in Yorkshire and Humberside. The business, which began as a specialist provider of dementia care, has expanded in recent years to provide general homecare and training for other care providers. Springfield has also pioneered the care village model. This saw the company open Seacroft, a £5 million development in Leeds last year. Across the Group, Springfield now employs 1,200 staff and provides care to 2,500 people each day.
Graeme Lee, CEO of Springfield Healthcare Group, said: “Our ethos is to keep people living at home independently for as long as possible. The facility offers disabled young adults the freedom to choose their path, while benefiting from comprehensive, market-leading care and support. These young people now have the opportunity to live independently within the community, with their families reassured by the 24/7 care and support that they will receive.
He continued: “Springfield Healthcare has seen exceptional growth during the past two years, and the support that we have received from BGF, both financially and strategically, has contributed significantly. We look forward to the further growth of the business during the coming months, continuing to provide the very best care to our clients.”
Andy Gregory, Regional Director at Business Growth Fund (BGF), said: “Springfield Healthcare continues to lead the market, providing the highest quality care in exceptional facilities. BGF is pleased to have been able to assist the business in delivering its latest facility, and look forward to working with Springfield Healthcare as it continues to expand both its properties and service provision.”
Richard Hunt and Jeremy Thompson of Squire Patton Boggs acted as legal advisers to BGF on its investment in Springfield Healthcare.