Revenue across Tristone Healthcare’s portfolio of businesses has risen by 35% in a year that has seen the buy-and-build-and-hold investment group invest significantly in the social care providers it supports.
In 2023, revenue rose from £22.6 million to £30.5 million across the Tristone community. This includes Premier Care Management, ProCare Wales, Sportfit Support Services, Juventas Services, Dimensions Care, Seaside Care Homes, Beyond Limits, Next Steps, and South West Intervention Services, which Tristone acquired in June 2023.
During the year, Tristone made significant investment into the business community, with the launch of an innovative recruitment platform to tackle the growing labour shortage in the social care sector.
Care Jobs Today, an online recruitment portal, is the first website of its kind to be launched in conjunction with social care providers in the UK. Initially, it will be used by Tristone’s 10-strong portfolio to advertise jobs within the business community, while also raising awareness of the benefits of working within social care, before being rolled out more widely.
This follows the launch of a social value platform in 2022, which enables Tristone to capture, measure and demonstrate the social value generated across the group. In 2023, the portfolio generated £3 million in social value.
Tristone founder and CEO, Yannis Loucopoulos, said: “Once again, our community of businesses has exceeded expectations and continues to demonstrate impressive growth dynamics in the face of strong economic headwinds.
“At the heart of everything we do is quality of care and the real and measurable difference we can make to society. As such, 2023 was a year in which we focused all of our efforts on improving and refining the way in which we do things as a group, addressing key challenges in the sector, such as skills and recruitment.
“We’re extremely proud of the achievements we have made during the course of the year, not only with the launch of Care Jobs Today, but our accreditation as a CPD accredited training provider. This aligns with our vision to become a group of social care organisations that deliver best-in-class social care services, achieving outstanding outcomes for the individuals we care for and doing so whilst delivering superior long-term returns for all stakeholders.”
In a year of continued expansion, Tristone’s portfolio has seen employee numbers grow from 616 to 696. In total, the community of businesses has supported 639 people over the course of the year, up from 440. In addition,residential care capacity grew to accommodate 78 individuals; community living now stands at 46-beds, with semi-independent accommodation at 186; while the community educated 206 young people, rising from 24 in 2022.
Loucopoulos continued: “2024 will no doubt continue to pose significant challenges to the sector and our business community, but we believe we have put in place solid foundations in the last 12 months that allow us to tackle these issue head on in a proactive and positive manner.”
