Cornerstone Healthcare Group acquires new site
Ignite is pleased to announce that portfolio company, Cornerstone Healthcare Group (“Cornerstone”) has acquired a development site in Bristol to build a new specialist nursing home.
The 1.3 acre site in Imperial Park, has been acquired subject to grant of planning permission. Cornerstone will be applying for permission to build an 80 bed nursing home with a view to opening the home in April 2023.
Cornerstone provides specialist care for older people with complex mental and physical health problems including late stage Dementia, Mental Illness and Huntington’s Disease. Ignite invested in Cornerstone in September 2018, when the business has 154 beds and operated from two homes in Hampshire.
This is the second follow-on acquisition for Cornerstone since Ignite invested in the business in 2018. Once the Bristol site opens, Cornerstone will operate 284 beds.