Reflections secures £700k investment for dementia20-03-2012
People living with dementia and carers in Cornwall will soon be able to benefit from increased daycare provision and a wider range of therapeutic services in the Redruth area.
Reflections a community interest company providing high quality daycare for people diagnosed with dementia, successfully raised over £700,000 of investment earlier in March.
Resonance Limited, a boutique corporate finance and fund management company specializing in impact investment, took Reflections through a detailed investment readiness process, which then enabled the organisation to secure the required investment.
Daniel Brewer, managing director of Resonance, commented:
“As well as Reflections being highly regarded in the sector, it is led by an outstanding social entrepreneur and management team. It is rare to find this level of business competence alongside such a high commitment to those with dementia and their families. “
This investment has enabled Reflections to purchase the former St Josephs Convent near Redruth, which it intends to refurbish so that it can cater for double the number of service users, as well as offer additional evening and weekend services. Ultimately, it hopes to offer self-catering holiday accommodation for people with dementia and their carers.
Recent research by Cornwall Council found that dementia provision in Cornwall is limited and yet the number of people affected is forecast to rise by over 60% in the County over the next 15 years.
Angela Downing, chief executive for Reflections, is excited by what this new capital will mean: “ This is the first step in demonstrating a viable business model that can be replicated across Cornwall and other parts of the country as an effective intervention that keeps people out of hospital and care homes for as long as possible.”
As it now embarks on implementing its growth plans, Reflections is looking to recruit a number of new non-executive Board members, to enhance its business and financial expertise. For more information on these opportunities call Angela Downing on 01209 215790.
To find out more about Reflections (SW) CIC, click here: Reflections South West