Aer Arann founder O’Ceidigh’s €4m acquisition and expansion of Westmeath nursing home funded by Ulster Bank
In a statement announcing the ‘acquisition and expansion’ of Sancta Maria nursing home Ulster Bank stated that it has agreed to provide €4m in finance to Aer Arann founder Pádraig Ó Céidigh.
Speaking about the announcement, new owner O’Ceidigh said it was a “very exciting time”.
The Westmeath nursing home has planning permission to add another 26 bedrooms and the expansion is set to create 30 jobs.
Sancta Maria ‘has a track record of being run to a very high standard under the leadership of Brigid Moran and there is further opportunity for upgrading and expansion which will enhance the existing facilities and create additional capacity for the growing requirement in this area of nursing home care. I am delighted that we are in a position to move ahead with this expansion, bringing both jobs and additional facilities to Kinnegad.” said Ó Céidigh.
Joe Bergin, Ulster Bank’s Relationship Manager in Region West, said: “Sancta Maria Nursing Home is a well-regarded and solidly run facility. Ulster Bank is delighted to support its acquisition and expansion which will facilitate the demand for greater capacity. We have €1.9 billion to lend to businesses this year and we’re pleased to be supporting businesses like this with exciting potential, that create jobs and support local communities.