Healthcare charity agrees £30m RBS deal
St Andrew's Healthcare, the mental health care charity based in Northampton, has begun expansion plans following a £30m deal with the Royal Bank of Scotland (RBS). The not-for-profit organisation aims to expand further across the country to treat more patients closer to their homes.
The charity is to soon open a 70-bed facility in Nottinghamshire to care for men with learning disabilities and/or autistic spectrum disorders. It will also open an additional 130-bed mental health unit in Northampton, which will provide further specialist services for deaf people, older age groups, people with Asperger’s and young adults.
The deal takes St Andrew’s total funding facility with RBS to £66m.
Steve Simpson, director of structured finance, RBS said: “We have a long-standing relationship with St Andrew’s, which has allowed us to fully appreciate the business dynamics and continue to support its impressive development. We are pleased with its success and excellent reputation in the mental healthcare space, and the new funding package should position it to achieve further medium-term expansion.”
St Andrew's also recently opened a new 128-bed unit in Birmingham providing men’s mental health services, which is already treating more than 100 NHS patients.
The charity’s turnover grew last year by 17 per cent to £154m, and will approach £200m as its latest new services open.
