| Change of FD at Southern Cross Healthcare |
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| Tuesday, 22 January 2008 | |
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Graham Sizer will stand down from his position as finance director at Southern Cross Healthcare Group PLC, the UK's largest care home operator.
Sizer has agreed to remain with the company until 29 February 2008 in order to achieve an orderly handover. He will be succeeded by Jason Lock who has served as Southern Cross’ Financial Controller since joining the company in March 2003. Lock, 35, is a qualified chartered accountant and prior to taking on his role at Southern Cross worked at PriceWaterhouseCoopers in various audit and tax roles. He worked together with Sizer during Southern Cross’ successful IPO in 2006 and has been closely involved in the company’s financing strategy and acquisition activity since that time. He holds a BSc (Honours) degree in Chemistry from Durham University. Lock will join the board of Southern Cross on 1 March 2008. Southern Cross (LSE:SCHE) is, in terms of number of beds, the largest UK provider of care home services for the elderly and a major provider of specialist services for people with physical and/or learning disabilities. The company's care homes for the elderly operate under two distinct brands: Southern Cross Healthcare and Ashbourne Senior Living. Both brands provide a range of social and personal care services and nursing care services for elderly people with physical frailties and differing forms of dementia. The company's specialist services operate under the Active Care Partnerships brand and provide long-term care services for people with physical and/or learning disabilities and for younger people with complex forms of challenging behaviour. The company provides care services for most of the local authorities in the UK which, together with the NHS, represent over circa 70 per cent of its revenues. Southern Cross Healthcare’s care home portfolio is largely purpose-built with a high percentage of single occupancy rooms and rooms with ensuite bathrooms. Occupancy levels in its core elderly segment are consistently in excess of 90 per cent. Related links |
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