McCarthy & Stone parts ways with Somerset Care and launches own extra care services
McCarthy & Stone has announced the launch of its own extra care services following a consensual conclusion to its partnership with Somerset Care.
Regulated care, domestic support and property management services at 92 Retirement Living PLUS (Extra Care) developments will now be delivered directly by the group.
Under the move, YourLife Management Services Limited (YLMS), which has provided extra care services in the 92 developments, becomes a wholly-owned subsidiary of the group.
John Tonkiss, Chief Executive of McCarthy & Stone, 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. This announcement is a critical step towards our vision of creating even deeper and longer relationships with our customers.”
The full ownership of YLMS will assist McCarthy & Stone in rolling out several new services across its developments, including smart technology, electric car clubs, an expanded care offering, including providing care into the group’s 293 Retirement Living developments, and increasing catering options. The group is also launching a range of multi-tenure options, including rental and part rent, part buy offerings.
Gary Ridewood, Chief Financial Officer and Interim CEO of Somerset Care, said: “Somerset Care are proud of the strong partnership that we have built with McCarthy & Stone. The high level of care that we have provided over the years has enabled thousands of YLMS customers to enjoy life, while continuing to live independently. During the nine years of the partnership, both of our organisations have developed considerably, and this decision marks the beginning of a new phase for Somerset Care’s home care provision which continues to grow, supporting customers in their own homes as well as in retirement communities nationwide.”
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