LDC, the leading private equity investor which is part of Lloyds Banking Group, has backed the management buyout of Taking Care Personal Alarms, led by CEO Steve Gates, to further expand its services and support more vulnerable people to live independently at home.
Founded in 1985 and headquartered in Exeter, Taking Care provides personal alarms, smart home monitoring products and associated monitoring and emergency call response services for elderly people to enable them to live safely and independently in their own homes.
The UK telecare market is expected to grow strongly over the next five years, driven by an ageing population, more independent living in later life and greater use of accessible digital technology.
Steve Gates, CEO of Taking Care, commented:
We are delighted to partner with LDC for the next stage of our journey. We know that LDC are aligned with our focus on investing for growth and ensuring that a growing number of customers can benefit from modern, digital technology enabled care and new prevention solutions – and remain in their own homes for longer.
Oliver Schofield, Investment Director at LDC, added:
An increasing number of older adults are looking for the latest in monitoring technology to support them as they live independently at home and Taking Care’s services have a real positive impact on customers’ lives. We’re excited to partner with Steve and the rest of the management team and to support their ambition to create new digital solutions to meet the needs of the UK’s ageing population.
