THE country’s largest nursing home company is planning to expand this year as turnover rose 10% to €26 million in 2009.
Mowlam Healthcare said staff numbers jumped 11% to 680 while it returned a pre-tax profit of €850,000. The company said it predicts further growth this year with an expansion of employment.
Mowlam Healthcare has 15 nursing homes and plans to continue expanding through organic growth and partnerships.
Mowlam chairman Pat Shanahan said despite the “very challenging” economic environment, coupled with the addition of three new nursing homes, the company is pleased with its performance in 2009.
“The increased turnover to €25.8m in 2009 was a positive performance considering the slowdown in the economy and the fact that many potential residents were waiting for the commencement of the nursing home support scheme Fair Deal before taking up residence.
“The Fair Deal Government funding scheme commenced in late October 2009 and makes long-term nursing home care more accessible, affordable and anxiety-free for those most in need of care. It will have the positive effect of raising standards by allowing residents to choose their preferred nursing home based on quality of care and environment,” he said.
Mr Shanahan said the demand for nursing home care is continuing to grow with demand forecast to double over 20 years.
He also welcomed the Government health reform programme, which introduced new standards for nursing homes effective from July 2009.
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