Business North August 2022

52 | Radius Residential Care LIFESTYLE Continued expansion remains a focus Richard Loader “Our people set us apart,” says Radius Care CEO Andrew Peskett. Fundamentally different from competitors Radius Care specialises in care, particularly high acuity care, as its core specialist area. Fresh thinking and executing a well-communicated strategy are seeing Radius Care expanding its operations. The company listed in December 2020, which has enabled it to invest more heavily in its operation, says CEO Andrew Peskett. One major example is that Radius Care has historically owned a small number of its 23 properties with the remainder being leased. A series of acquisitions mean it now owns more than half of its properties and can now develop them to offer additional and more varied product to its clients to meet demand, says Andrew. “Four strategically-important leased sites acquired in May allow us to build another 100 units on these four properties. “We now have a significant development pipeline of 290 additional beds together with retirement village units and we’re delighted that the majority of the beds are likely to be our new care suite product where residents buy an Occupation Right Agreement – compared with a traditional pay per day model. There’s been a high level of interest in this offering and we’re looking forward to introducing it to the market.” The company is also looking for additional greenfield land with a current project being Northwood in Christchurch. The 4.3ha site will offer the full continuum of care from units and villas to care beds and suites. It is part of the company’s strategy to increase its offering in the retirement village space – currently it owns 120 village units, or approximately 4%, of its portfolio. In November 2021, Radius acquired Clare House in Invercargill extending Radius Care’s reach into the Deep South. Located in Waikiwi, Clare House is an integrated care facility and retirement village offering 69 care beds and 25 retirement units. Andrew says that the acquisition means Radius Care now extends from Invercargill to the Bay of Islands and is growing, as continued expansion remains a focus. It is also actively looking to acquire existing care home and retirement village assets. It’s strategy has been successful to date. For the 12 months to 31 March 2022, Radius Residential Care Limited delivered strong financial results that provide a springboard for growth and were comfortably within the guidance metrics provided in November 2021, says Andrew. “This is an excellent performance, particularly given the challenges the year presented. It’s a testament to the amazing dedication of our people and the resilience of our business model. “Our people continued to excel in their jobs irrespective of the various challenges provided by lockdowns, rostering pressures as colleagues isolated and supply chain disruptions. The key is now building on this solid base. “We are ready and prepared for growth with new leadership and fresh ideas.” Andrew has been part of this change with his appointment in February. He brings extensive experience in the retirement village and aged care industry, having previously been a senior executive at Metlifecare and prior to that working in large London law firms. “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,” says Radius Care’s Executive Chair, Brien Cree. Another important appointment has been Wendy Jenkins as its new chief financial officer. Wendy starts her role in July and has strong capital markets and investor relations skills, says Andrew. Wendy has an MBA from Macquarie Graduate School and sixteen years’ high-level overseas experience. She was the general manager management information at ASB Bank and previously held general manager roles at Genesis Energy across its corporate finance, investor relations, retail and technology and digital operations. Andrew says Wendy is a first class leader who brings significant commercial acumen and corporate experience to the team, which will be a great asset to Radius Care in executing its strategy. Andrew says Radius Care is fundamentally different from competitors: it specialises in care, particularly high acuity care, as its core specialist area. It’s a highly specialised area of aged care and one, which requires specific expertise. “Our people also set us apart. We hire very talented and experienced people to run our care homes who have the qualifications to provide the levels of care required and the ability to connect well with our people and our residents. “When you enter a Radius Care facility everyone will greet you that you meet with a smile, energy and compassion. “By focusing on this we have a recognised and respected strong market brand. “It aligns with Radius Care’s vision statement - Exceptional People, Exceptional Care. 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