Southern Cross Healthcare Group (SCHE-LN)

Wall Street Journal  Jun 8  Comment 
U.K. care-home operator Southern Cross Healthcare Group said it plans to cut 3,000 jobs, as the company tries to win support from lenders and landlords in its efforts to stave off financial collapse.


Southern Cross Healthcare Group PLC is a provider of care homes for the elderly and a provider of specialist services for people with physical and/or learning difficulties. During the fiscal year ended September 30, 2007, it operated/managed a total of 712 homes and 36,215 beds. At September 30, 2007, the Company had two business segments: Elderly Care and Specialist. On November 14, 2007, it disposed of the Avery sub-group. Effective February 25, 2007, it acquired Life Style Care PLC. On March 20, 2007, it acquired Paramount Limited. On April 27, 2007, it acquired Care Express Limited. On April 27, 2007, it acquired Garden Hill Limited. On May 11, 2007, it acquired Yohden Hall Limited. On May 18, 2007, it acquired Amber Court Care Homes Limited. On June 14, 2007, it acquired Larbert Care Home Limited. On August 23, 2007, it acquired Pitkerro Care Limited. On August 31, 2007, it acquired Dolphin Properties Scotland Limited. On September 14, 2007, it acquired Lincare Limited.

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