Abbey Grange Nursing Home has been bought by Country Court Care Homes in a deal financed by Santander Corporate Bank and backed by European Investment Bank funding.
The 87-bed nursing home provides elderly, residential, nursing and dementia care, in a converted Grade 2 listed building, close to the Northern General Hospital in Sheffield and was in administration.
Country Court Care is run by the Kachra family and has seven nursing and care homes in the South Lincolnshire and North Cambridgeshire area.
The firm also runs domiciliary care services in Bourne, Stamford, Market Deeping, Spalding, Peterborough, Rutland and Milton Keynes.
Chief executive, Abdul Kachra, said: “Abbey Grange is a welcome addition to our stock of care homes and we look forward to returning it to its former success.
“Santander’s in-depth understanding of both our business and the sector helped with the smooth completion of the deal. I look forward to working with Santander in the future.”
Santander relationship director for education, healthcare and communities, Ian Brown, said: “We are pleased to have been able to support the company’s expansion through our agreement with the European Investment Bank.”
The Kachra family, have been in the care sector for more than 30 years. Abbey Grange is currently being managed by the company’s Operations Manager, Suria Webb, who has been with the group for 12 years and has 21 years healthcare experience.