OakNorth Bank completes £760k loan to Nightingale Healthcare Group to support the acquisition of a domiciliary care business

  • Since 2006, the domiciliary care business has provided care-at-home with a focus on the local BAME (Black, Asian and Minority ethnic) community, in particular Hindus, Sikhs and Muslims;
  • Care is delivered by staff who can speak the same languages and cook appropriate meals whilst understanding sensitive cultural and religious requirements and needs;
  • The acquirer, Nightingale Healthcare Group, is a new entity owned by Mo Moosa.

OakNorth Bank – the UK bank for entrepreneurs, by entrepreneurs – has provided a £760k loan to Nightingale Healthcare Group to acquire a domiciliary care business, providing a service for people needing care and support in their own home, including child care.

The business provides care to individuals who may have a disability or are physically frail and housebound due to their age, and find it difficult therefore to cope with their personal care needs and domestic responsibilities. The business has a Care Quality Commission (CQC) rating of “Good” and its care staff are highly trained and experienced in meeting the needs of service users. They can also speak the same languages of those they’re caring for, and cook appropriate meals, taking into account sensitive cultural and religious needs.

Nightingale Healthcare Group is a new entity set up by Mo Moosa, a police constable who was inspired to found the business following his experiences with domiciliary care for his family.

Commenting on the transaction, founder of Nightingale Healthcare Group, Mo Moosa, said: “As a police constable, caring for those in my local community is what gets me out of bed in the morning. With Nightingale Healthcare Group, I hope to build on this, providing domiciliary care to the local community from carers who speak the same language and understand the cultural and religious requirements of those they’re caring for. Like our caring staff, the team at OakNorth Bank were incredibly helpful, attentive, and open in their approach. We look forward to working with them again as we build the business.”

Al Morris, Director of Debt Finance at OakNorth Bank, commented: “Mo is clearly driven by his own experiences with domiciliary care and is determined to improve the livelihoods and care conditions of elderly people in his local community. The pandemic shone a spotlight on just how important the social care sector is, and the positive impact that good domiciliary care can have on the mental health and wellbeing of those being cared for. Mo is acquiring a strong business and building a strong team, so we are delighted to be supporting his new venture and hope to help with future transactions as the Group grows.”

ENDS

 

Notes to editors

About OakNorth Bank plc

Launched in September 2015 and founded by entrepreneurs, OakNorth Bank provides fast, flexible, and accessible debt finance to the UK’s Missing Middle.

Since its launch, the bank has:

  • Lent over £7.5B, directly helping with the creation of 34,000 new jobs and 25,000 new homes across the UK.
  • Raised deposits from c.160,000 savers.
  • Supported several hundred businesses across the UK with the debt finance to pursue their growth ambitions.

It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. 

Contact 

Valentina Kristensen, Director – Growth & Communications – valentina.kristensen@oaknorth.co.uk / press@oaknorth.co.uk / +44 757 234 9009

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