Balhousie Care Group finance director scoops national award

Mike Reid, finance director of Balhousie Care Group, has been named Finance Director of the Year at the prestigious FDs’ Excellence Awards.

Mike won the award in the category of private company with turnover of £20m+ for his work in helping turn around the Perth-based care home group.

Mike joined the company in 2014 and has helped transform it from a firm facing major challenges and losing money, to one which is a leader in its sector and turning a profit. In 2017 he oversaw a £49m refinancing of the business, now in its 25th year of operation and with 25 care homes across Scotland.

The FDs’ Excellence Awards were held this week at the Royal College of Physicians in London as part of the 2018 FD Surgery which brought together more than 250 entrepreneurial finance directors for a day of debate, learning and networking.

Balhousie Care Group’s Chairman Tony Banks said:

“Balhousie Care Group’s journey over the last three years – from a company that was in the red financially, in a sector facing major pressure and financial challenges, to where it is today – has been remarkable. The appointment of Mike in 2014 was integral to turning things around. He came with a strong financial pedigree but no experience in the care sector. That fresh, analytical eye proved crucial in helping us steer our ship back on course to be nationally recognised as a leading independent provider of care services in Scotland.”

The FDs’ Excellence Award is the latest in a line of national accolades for Balhousie Care Group. Operations Director Louise Barnett took the title of Operations Manager of the Year at the National Care Awards. Last week dementia nurse consultant Yvonne Manson was named as a finalist in the RCNI Nurse Awards, which celebrates excellence in nursing care U.K.-wide.