17 January 2024 Radius Care (NZX: RAD) has completed the previously announced sale of the Arran Court care home, located in Te Atatu, Auckland. Net sale proceeds of $18.3m have been applied to repay existing ASB borrowings. Radius Care also announces that the ASB has agreed to amend the expiry date of the remaining $4.7m short term borrowings from 31 January 2024 to 1 November 2026, for consistency with the majority of Radius Care’s term borrowings. As part of the facility extension, ASB has also agreed to remove any requirement to further reduce debt, representing completion of the debt manag ..read more

27 November 2023 Radius Care Delivers 50% Uplift in First Half Year Underlying EBITDA Radius Residential Care Limited (NZX: RAD) today announced its results for the six months ended 30 September 2023, the first half of the FY24 year. Highlights: • Underlying EBITDA of $10.5m1, 50% up on comparative period and at the upper end of guidance issued to the market. • AFFO of $2.9m, 16% up on comparative period. • Occupancy 93.0% at period end, ahead of industry average. • Execution of business improvement programme, delivering $1.3m annual savings. • All facilities now fully staffed. • Establishme ..read more

Radius Care (NZX: RAD) is pleased to confirm the extension of the $23 million bridge facilities with ASB to 31 January 2024. Sale proceeds from the previously announced sale of the Arran Court facility will be applied to repay the majority of these facilities, representing significant progress in meeting the goals of the company’s debt management program. For further information, please contact Andrew Peskett Chief Executive Officer Phone: +64 21 747 363 Email: andrew.peskett@radiuscare.co.nz Jeremy Edmonds Chief Financial Officer Phone: +64 22 650 9354 Email: jeremy.edmonds@radiuscare.co.nz T ..read more

Radius Care (NZX: RAD) has signed an agreement to sell the Arran Court facility, located in Te Atatu, Auckland. The sale is for 100% of the business, including the freehold property. The sale proceeds are approximately $19.0m (net of sale costs), with settlement planned on 16 January 2024. The sale is conditional on ASB approval. The pending transaction is also conditional on the purchaser completing satisfactory due diligence and obtaining finance and regulatory approvals. All conditions are due to be satisfied by 30 November 2023. Brien Cree, Executive Chair, said “Our people at Arran Court ..read more

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, Act ..read more

Radius Care’s residents and staff members look a lot like the New Zealand of today, a melting pot of cultures and nationalities. How our people celebrate the holidays provides a glimpse of our diversity, which extends beyond sparkling lights, pretty ornaments and swapping presents. Regardless of culture and faith, Radius Care’s staff work tirelessly to make the holiday season special for the residents. Every December, activities are thoroughly planned to spread the festive cheer, including holiday movie and ice-cream events, lighting and decorations, pamper sessions, live music and bands, Chri ..read more

Even end of life legislation doesn’t cover people in aged care who feel “enough is enough”. The elderly woman, suffering from dementia, had made a decision. She would no longer eat. As her daughter-in-law put it: “In a private room, with only the television for company, she clearly decided – somewhere in the recesses of her addled brain – that enough was enough. She simply stopped eating. “Who knows how much pain she endured from hunger pangs and dehydration but ultimately, somehow against the odds, she did take back some control of her life in the end, and decided to die.” The full story is f ..read more

The International Day of Older Persons is fast approaching! Every October 1st, the world comes together to celebrate the lives of our elderly generation, who make up 9% 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 ..read more

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: Radius Arran Court located in Te Atatu South, West Auckland: 102 care beds; Radius Fulton located in Caversham, Dunedin: 93 care beds; Radius Peppertree located in Kelvin Grove, Palmerston North: 62 care beds; and Radi ..read more

OK, well maybe not that Florence and definitely not since 1820, but Radius Care, a leading aged care provider, recently debuted its new self-check-in kiosk. The digital device is obviously named after the founder of modern nursing, Florence Nightingale. This new digital Florence offers unique advantages to nurses over the traditional aged care check-in experience. The pandemic created overnight requirements for Radius Care to ensure that visitors and staff weren’t bringing in the virus. Nurses have always needed to health screen visitors entering an aged care facility, but previously a paper q ..read more