Revenue across Tristone Healthcare’s portfolio of businesses has risen by 40% in an exceptional year, as the buy and build investment group continues to back social care providers across the UK.
In 2022, revenue rose from £16.16 million to £22.6 million across the Tristone community – which includes Premier Care Management, ProCare Wales, Sportfit Support Services, CFS Care, Juventas Services, Dimensions Care, Seaside Care Homes, and Beyond Limits. This follows the announcement at the end of 2022 that Tristone Capital has acquired K Bond Healthcare Ltd (trading as Next Steps), completing a trio of deals in 2022 for the social care investment group.
In a year of continued expansion, Tristone’s portfolio has seen employee numbers grow from 364 to 616. In total, the community of businesses has supported 440 people over the course of the year and can now care for up to 172 children and young people, together with 88 adults across a range of services. In addition, residential care capacity grew by two-thirds; community living increased by 180%; and the community educated 24 young people. Semi-independent accommodation and fostering placements remained steady for the portfolio in 2022.
Tristone founder and CEO, Yannis Loucopoulos, said: “It’s been a truly exceptional year across our community of businesses, as we continue to strive for growth, while at the same time placing the delivery of outstanding quality at the forefront of everything we do.
“The pressures being placed on the social care system are well documented and run deep, making the role of our community even more important. In early 2023, the Government is expected to publish its long-awaited recommendations, following the Independent Review into children’s social care. For many in our community, this will provide an important indicator about the future direction of the sector in the coming months.”
In 2022, Tristone made significant investment into its community, launching a social value platform. This enables Tristone to capture, measure and demonstrate the social value generated across the group. In addition, a team from across the Tristone community of businesses cycled from London to Paris, raising £20,000 for children’s charity, The Rainbows Trust.
Loucopoulos added: “We’re extremely proud of the considerable efforts made by our community of businesses in 2022, and the positive impact they continue to have on the lives of those individuals they care for. 2023 is set to be another challenging year – both for the sector and the economy as a whole – and we are firmly committed to supporting those businesses, and employees, who are passionate about making a real difference and helping people in need.”
