Optivo exits care home market to focus on housing

Housing association Optivo has ended a contract with Ealing Care Alliance, marking its exit from care home management. It has passed management of four care homes in Ealing to specialist provider Minster. The shift comes as Optivo seeks to focus on housing, with a portfolio of 45,000 homes in London, the South East and the Midlands. Chief executive Paul Hackett said: “This PFI contract was Optivo’s single remaining activity in the care sector. It’s been our strategic ambition to exit from care and focus on our core business of housing. “Optivo has made an annual operating loss on this contract for a decade. Ending the contract represents a significant improvement to our financial plan.” To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette