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31 Jul 2019 | 09:50

McCarthy & Stone end care partnership with Somerset Care to manage services directly

Retirement community developer and manager McCarthy & Stone said it had concluded its care partnership with Somerset Care in its 92 extra-care retirement living developments and would now deliver all regulated care, domestic support and property management services itself.

This move formed part of the company's strategy to transition from a housebuilder to the UK's leading developer, manager and owner of retirement communities, it said.

'Now our care service is at significant scale and the partnership with Somerset Care has concluded, we have an exciting opportunity to develop the next generation of products and services in line with our new strategy. The growth of our care and service business is integral to this approach and it is essential that these services are delivered wholly by McCarthy & Stone,' said chief executive John Tonkiss.

McCarthy & Stone said it would open around 17 new Retirement Living Plus developments in the full-year 2019 and would first occupy its 100th Retirement Living Plus scheme in early 2020.

At 9:50am: (LON:MCS) McCarthy Stone Plc share price was +1.3p at 140.7p

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