Cramlington House, part of the Craig Healthcare group, has bought Longbenton’s West Farm Care Centre and sold off Tynemouth’s Kingsbury House.
The move, plus a refinancing deal, will enable the firm, based at the 63-bed Bassington Avenue home, to expand the range of services it offers.
It will also give the specialist dementia care provider the opportunity to continue its growth across the region.
Craig Healthcare managing director Lucy Craig said: “The success of our care homes has given us the confidence to expand our portfolio, having built a good reputation over the years for providing high-quality care for elderly people.
“The addition of West Farm Care Centre creates opportunities for continued growth.
“Everything came together in the final days of the transactions, and I was very pleased with the level of support, professionalism and communication offered by the team at Muckle LLP in Newcastle and our bankers at Santander.
“I would also like to thank John Bell at BTW Accountants in North Shields for his advice and support.”