7. Four Seasons Health Care
Managing Director: Jim McCall
Pre-tax profit: n/a
Four Seasons Healthcare is the largest provider of nursing and residential care home services in Northern Ireland.
The company operates 67 homes with capacity for 3,500 beds and employing more than 3,750 staff.
It is the third largest provider of nursing and residential care homes in the UK, with more than 20,000 staff employed in more than 400 facilities.
In Northern Ireland, the company works in collaboration with the Health and Social Care Board and Trusts and now offers dementia services, intermediate care and specialist adult mental health provision.
In 2010 one of the homes received a UK national award, named ‘Best Care Home in the UK’.
As the country faces health budget pressures, Four Seasons Healthcare believes private sector organisations could help provide a solution to financial challenges.
It hopes that improved collaboration would assist the Northern Ireland Assembly and the Health Minister to make best use of scarce resources in order to provide high-quality health and social care.
Following the challenges of the past few years’ economic climate, the company believes it is entering a period of stability following debt restructuring in 2009.
More than a year of negotiations took place after Four Seasons broke banking covenants in September 2008 on a debt of more than £1.5bn, owed to a panel of more than 35 lenders.
A debt-for-equity deal saw lenders write off more than £800m in debt in return for a stake in the business.
Principal lender Royal Bank of Scotland wrote off around £330m of debt and received a 40% stake.
2010 saw Four Seasons securing an extension to the maturity of its debt following 2009’s renegotiations with creditors. A group of bondholders had threatened to block the attempts at debt restructuring.
It now plans to enhance existing services and has three new developments planned for Northern Ireland between 2011 and 2014.
York Gate Business Park,
Tel: 028 9074 9965