Caretech's occupancy levels hold strong

13th Oct 2009 15:03

Social care services provider Caretech said trading in the year to 30 September was in line with management expectations, with no deterioration in occupancy levels at its care homes.Occupancy in established services remained at 93% 'providing longevity and visibility of our cash backed income stream,' the company said.The company's two major acquisitions from the preceding year, Beacon Care and Valeo, performed up to management expectations, while the 2009 acquisition of Lyndhurst extended the group's operations in the mental health area.As well as the 25 beds added via the acquisition of Lyndhurst the group added 97 beds across its range of specialist services through organic growth.The group remains on the look-out for acquisition opportunities while still remaining committed to organic growth.'With leading internal quality standards, high levels of occupancy, a visible income stream and strong cash flow, we remain confident about the future prospects of the group,' said executive chairman Farouq Sheikh.