Fast-growing Guardian Care Homes (UK) has refinanced its business - and now has a "war chest" of £15 million to develop its ambitious plans.
Guardian, which has its main administrative office in Wednesfield, has, over the last two years, become one of the largest privately-owned groups of care homes.
The firm, which in July 2003 had 11 homes, now owns 32 - with around 1,000 beds and employing 700 - in England and the Scottish borders.
In the last six months Guardian has also strengthened its management team, with the appointment of Kevin Groombridge as chief executive and Pat Moore as commercial and finance director.
Fortis Bank's specialist healthcare team - led by Simon Murray and Natalie Bacon - has provided the re-financing facilities, including setting up the £15 million pot to back the development of existing care homes and to support the strategic direction of the group.
Guardian's chairman, Gary Hartland said: "We now have the facilities in place, which, together with a strong management team, will enable the group to further develop its business in a properly structured manner.
" We always give the 'Guardian treatment' to the homes that we acquire, which are often in need of renovation, conversion or extension to provide 21st century healthcare accommodation, including all en suite bedrooms.
"We have also acquired a number of purpose-built homes, which we are extending to cope with increased occupancy demand.
"This 'war chest' provides us with the capacity to continue to deliver high quality care at our existing homes, while also developing those that need investment and adding to our portfolio."
Mr Hartland founded Guardian in 1992. Twelve of the group's homes are in the Scottish borders and seven are in Lincoln, with the remaining in Derbyshire, Shropshire, Yorkshire and Cornwall. Mr Groombridge joined the company in March, having been managing director of Highfield Care plc.
Ms Moore, was formerly Midlands senior partner and corporate finance partner at accountancy firm BDO Stoy Hayward.
Legal advisers to Guardian Care Homes in the refinancing were James Knight and Kevin Styles, of Manby & Steward, Wolverhampton.
Mr Knight said: "Gary Hartland and his team have worked hard to achieve this re-structure and a sound financial platform to develop the business yet further."
Simon Murray, of Fortis Bank, said: "We are delighted to have had the opportunity to join forces with an extremely ambitious and strong team. This investment further supports our interest in the healthcare sector."