Investee Company Name: Sunhill Nursing Home
Investment Amount: €2.75m
Industry: Nursing Homes
Reason for Investment: Expansion & Growth Capital
The 2015 Goodbody EIIS Fund invested €2.75m in the Sunhill Nursing Home which is based in Termonfeckin, Co. Louth. The funding was used to build an extension to Sunhill to facilitate the development of a specialist dementia unit, increasing the capacity of the facility by 22 beds and enabling the provision of specialist dementia care services.
Stephen McGivern, Partner, Baker Tilly said “This project represented a fantastic opportunity, not only for our investors based on the strength of the management team who have a long established track record and good relationships with key business partners, but also to do good in the local community by providing vital services in specialist dementia care.”
There is a shortage of nursing home beds in the Northeast and Drogheda hospital is regularly in the news due the large number of patients on trollies. Vincent McDonald, MD of the Sunhill Nursing Home states that further high quality step down care is required in the North East. We expect the new beds will be utilised quickly due to the shortage of suitable accommodation in the area.