In 2010 Albion invested £6.5m in Orchard Portman to acquire a nursing home and constructed a 23 bed psychiatric care hospital as an extension to the existing building. The sale of Orchard Portman will result in the creation of one single psychiatric care hospital with a total of 46 beds, renamed Cygnet Hospital Taunton.
Orchard Portman has addressed a current shortage of dedicated psychiatric care units in the South West of England and under Albion’s guidance, the hospital has experienced extremely high occupancy rates.
Orchard Portman cares for elderly patients suffering from a mental illness or personality disorder as well as those affected by a physical health problem requiring general nursing input. These patients are highly dependent, requiring the stabilisation of mental illness and the management of aggression and challenging behaviours to the point where they can move on to a nursing home or the community.
Orchard Portman is set in ten acres of grounds located outside Taunton, near the village of Orchard Portman. The site was originally a school, but was converted into a nursing home over 30 years ago.
David Gudgin, Partner at Albion said: “Orchard Portman has played an important role in the provision of specialist psychiatric care in the South West and we have been delighted to support the hospital in catering for a growing number of patients. This investment has generated an excellent return for our funds and underlines our sustained ability to identify growth opportunities in the healthcare sector.”
Oliver Sargent, Managing Director at Orchard Portman said: “This is an important next step for Orchard Portman and underlines the successful partnership we have forged over the years with Albion. Since opening the new hospital in 2010 our reputation for providing the highest level of care and support to mental health patients has grown rapidly and we are very much looking forward to the next stage of our growth plan.”
Albion is an active investor in the elderly care and healthcare sectors. Albion’s current and past investments in the elderly care sector have delivered an annual return of over 20%. In December 2014 Albion exited Oakland Care Centre, an award winning care home for the elderly, generating a 2x return on investment. Albion is actively pursuing new potential investment opportunities in the sector.