OakNorth Bank has provided a £4.2 million loan to My Choice Healthcare Four to refinance existing debt and support the acquisition of two family-run care homes in Swansea, which offer residential and nursing care for those aged 65 and over, including those living with dementia.

The 22-bedroom Hawthorn Court was established in 1991 and features private gardens, a newly renovated conservatory and lounge area, and weekly activity programmes.

14-bedroom Ocean Living has been developed and designed specifically for luxury senior care living, offering residents generous room sizes.

Craig Sheppard, founder and chairman of My Choice Healthcare Group, said: “With the number of people aged 75 and over in Wales expected to increase significantly over the next 13 years, there is a need for more local care facilities. With our acquisition strategy, we’re hoping to help address this need and ensure Swansea’s elderly population are offered high-quality care facilities.”

Martin Williams, director of debt finance at OakNorth Bank, added: “As we look to grow our lending efforts and capabilities across England and Wales, we’re once again delighted to partner with a firm that is part of the hugely successful My Choice Healthcare Group. Its management and operational teams have more than 30 years’ experience working in the industry and running care homes, so have extensive market knowledge and experience operating through economic cycles. This is part of their group growth strategy which resonates well with OakNorth, so we look forward to working with the team again on future care home acquisitions moving forward.”