Titan Europe 2007-1 (NHP) Limited - Irish Stock Exchange

Titan Europe 2007-1 (NHP) Limited Collateral and Structural Term Sheet 1 st May 2007
Geographic Presence
Region
Number of Homes
Percent of Total
Number of Homes
Number of Beds
Percent of Total
Number of Beds
North and Yorkshire 192 33.1% 9,627 33.3%
Midlands 101 17.4% 4,698 16.2%
Scotland 78 13.4% 4,604 15.9%
Southeast England 62 10.7% 3,389 11.7%
Wales and Southwest
England
68 11.7% 2,861 9.9%
East Anglia 58 10.0% 2,761 9.5%
Northern Ireland 21 3.6% 977 3.4%
Total 580 100.0% 28,917 100.0%
Source: Annual Report and Accounts 2006, Southern Cross Healthcare Group PLC
A typical care home in the company’s elderly operations has circa 50 beds and offers 24-hour care services. Each home has catering
and housekeeping staff, an administrator, residents’ activities co-ordinator and handyman. For care homes providing nursing services,
there is professional staffing (including nurses). The group is subject to regulation with respect to staffing levels and the physical quality
of its care homes across the three brands.
The Southern Cross Healthcare and Ashbourne Senior Living brands provide three types of facilities: residential homes, nursing homes
and dual homes (focusing predominantly on provision of services to elderly couples). Active Care Partnerships provides a range of
residential, nursing and supported living services across the United Kingdom.
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The majority of Southern Cross Healthcare homes are purpose-built with dining and lounge facilities on sites. Each home has on
average 55 beds (predominantly single ensuite rooms), and is typically a two-storey construction.
Ashbourne Senior Living operates 72 care homes with on average 55 beds per home.
The group operates 42 specialist care homes under the Active Care Partnerships brand for people with learning and/or physical
disabilities. The specialist homes typically have shared communal areas and provide each resident with a single ensuite bedroom.
Active Care Partnerships homes have on average 21 beds per home.
Resident Profile
Southern Cross Healthcare homes target primarily high-dependency residents with specific nursing or social care needs, and the
average stay for this customer group is estimated at circa 11 months, with average occupancy of approximately 93%.
The Ashbourne Senior Living brand caters for elderly self-funding customers who may require additional services and a higher
accommodation standard.
Residents within the Active Care Partnerships brand are suffering physical and/or learning disabilities. In addition, residents of the
Stocksbridge Neuro Rehabilitation Centre have sustained brain injuries and Abbeydale Court Nursing Home provides mental health
facilities. The age and the length of stay of the Active Care Partnerships residents vary according to patients’ individual needs and
preferences.
Funding
As of 1 October 2006, the average weekly fee rate for residents of the group’s care homes was £478, and weekly revenues on a per
bed basis were circa £455, £524 and £873 for Southern Cross Healthcare, Ashbourne Senior Living and Active Care Partnerships
respectively (Source: Annual Report and Accounts 2006, Southern Cross Healthcare Group PLC).
The funding sources for residents are detailed below:
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