Radius Arran Court

The International Day of Older Persons is celebrated every October 1st, when the world comes together to celebrate the lives of our elderly generation, who make up 10% of the global population. Dedicated to our elders, to acknowledge their wisdom, experience, and contributions to society, it’s a day to give back to those who have given decades to us.

International Day of Older Persons was officiated by the UN in 1991. In New Zealand, our elderly population is expected to increase from 16% to 21-26% by 2048. With elderly making up an increasingly significant chunk of our population, it is more important than ever to appreciate our senior citizens.

This year’s theme is ‘The resilience and contributions of older women’. It celebrates the resilience and perseverance of our elderly women in the face of gender inequality throughout their lifetime.

Whether it be family or friends, men or women, here is how you can celebrate your loved kaumātua this October.

 

Spend time with them

At Radius Care, we encourage family and friends to spend as much time with loved ones as possible. They are welcome to join in on meals with the residents, and staff often host celebrations in collaboration with families. No matter how hectic life gets, you can always come for a visit at your own time and remain an integral part of their support system.

Sit down for a cuppa and a chat with your parents, grandparents, aunties, or uncles and learn all about the wisdom they have to offer. Whether in person or digitally, reminiscing on past experiences and life lessons is a special way to show the seniors in your life that you care. Perhaps you could flick through photo albums from their childhood or listen to their favourite record.

Radius Peppertree

 

Get involved

Whether your loved one is at home or in a care home, getting involved in their hobbies is a great way to show you care. This could be gardening, bingo, painting, knitting, playing cards, or reading with them. Showing interest in their hobbies and pastimes lets them feel acknowledged and valued. Fun doesn’t stop when you get older. In fact, our Activities Co-ordinators and Physical Therapists spend their days supporting resident’s hobbies from arts and crafts to gardening and dancing.

Radius Taupaki

 

Write a letter

When was the last time you wrote a letter instead of emailing? If you can’t be with them in person this Elders Day, consider sending your loved one a handwritten letter, with reasons why you appreciate them. Creating a special keepsake for them to cherish is a great gift to show you care.

 

Cook them a meal

Cooking together is a great way to spend the day if you can be with them in person. Consider cooking them their favourite dish from their childhood or trying a beloved recipe that was passed down the generations. Whether it’s a Sunday roast or an apple pie, nothing shows appreciation more than a nice homecooked meal made with love. Here at Radius Care, providing food that is tasty and nutritious is a priority, with our kitchens catering for a variety of dietary requirements. Serving three hearty, healthy meals alongside snacks throughout the day, from fish and chip Fridays to Sunday roasts, there is something available for every resident to enjoy. Our chefs also put on special meals for occasions – such as the ever-popular high teas.

It is important that our growing elderly generations knows that their contributions are valued, and that they feel appreciated. This October, and all other eleven months of the year, take the time to show the elders in your life how much you care for them.

UCG Acquisition

Radius Residential Care Limited (NZX: RAD) (Radius Care) today announced that it has entered into conditional agreements to acquire the land and buildings of four aged care facilities, currently operated by Radius Care with 342 care beds, from its landlord UCG Investments Limited (UCG) (UCG Acquisition).

The properties which form part of the UCG Acquisition are:

a. Radius Arran Court located in Te Atatu South, West Auckland: 102 care beds;
b. Radius Fulton located in Caversham, Dunedin: 93 care beds;
c. Radius Peppertree located in Kelvin Grove, Palmerston North: 62 care beds; and
d. Radius St Joans located in Fairfield, Hamilton: 85 care beds.

The total purchase price of the properties is $46.7 million, based on independent valuations. The UCG Acquisition will be funded by the following facilities to be provided by ASB Bank Limited:

 

In line with the company’s previously communicated and executed strategy, Radius Care intends to raise capital to repay the $23 million funding provided under the existing development and new bridging facilities.

 

Radius Kensington

In addition to the four UCG Acquisition properties, Radius Care leases the land and buildings of a fifth aged care facility operated by Radius Care – Radius Kensington in Maeroa, Hamilton (96 care beds). Concurrent with the UCG Acquisition, Radius Care has entered into a conditional agreement with UCG to acquire the land and buildings at Radius Kensington (Kensington Acquisition). Radius Care has entered into a separate agreement with a third party for Radius Care to nominate the third party to acquire Radius Kensington in place of Radius Care (Nomination). Under the terms of the Nomination, Radius Care is granted an option to acquire Radius Kensington from 24 May 2022 at a purchase price determined based on an agreed yield, calculated on the then-current rent.

 

Alignment with Radius Care’s Growth Strategy

The transactions represent a continuation of Radius Care’s growth strategy of purchasing facilities already operated by Radius Care. It will increase Radius Care’s freehold ownership to 12 out of 23 aged care facilities it operates. Ownership of the four properties will remove the annual lease expense (and future CPI increases) paid by Radius Care. The UCG Acquisition will also increase the company’s development pipeline by 80 to 100 beds. The acquisition also enables further business optimisation by increasing Radius Care’s future revenue that can be generated by premium-charging and will facilitate the provision of Occupation Right Agreements over care beds (care suites).

 

Shareholder Approval and Timing

The transactions are conditional on Radius Care shareholder approval. Information will be sent to shareholders in April to enable them to vote on the transactions at a shareholders’ meeting in late April 2022. The transactions are expected to settle on 29 April 2022.

 

For further information, please contact:
Andrew Peskett
Chief Executive Officer
Phone: +64 21 747 363
Email: andrew.peskett@radiuscare.co.nz

Radius Care Limited (NZX: RAD) is pleased to announce the appointment of Andrew Peskett as its new Chief Executive Officer (CEO), effective today, 1 February 2022.

Andrew brings extensive experience in the retirement village and aged care industry, having previously been a senior executive at Metlifecare, a leading New Zealand retirement village operator with total assets in excess of $4 billion. After several years working in large London law firms, Andrew returned to New Zealand and joined Metlifecare in 2007, holding roles including Acting Chief Executive Officer, GM Corporate Services, Acting GM Operations and General Counsel & Company Secretary.

Andrew played a significant role in the transition of Metlifecare from listed to private ownership under its new owners, EQT. After helping to design and implement the company’s post-takeover strategic plan, Andrew joined Radius Care as Special Projects Lead in November 2021.

Radius Care’s Executive Chair and Managing Director, Brien Cree said “Andrew’s expertise in retirement villages and proven record as an energetic and results-driven leader will be invaluable to Radius Care as we execute our near-term opportunities and planned growth strategy. He will lead key elements of this strategy including increased ownership of our existing care homes and greenfield and brownfield projects to widen the offering to Radius customers by providing more independent living Occupation Right Agreements (ORAs). Another key element will be portfolio optimisation including increased premium charging and the provision of ORAs on care suites.”

Andrew added “I am delighted to accept the role of CEO at Radius Care and am looking forward to leading the company through its next phase of growth. Radius Care’s vision statement is Exceptional People, Exceptional Care (EPEC). I absolutely support this philosophy and see it as being key to providing long-term, sustainable shareholder value.”