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

Titan Europe 2007-1 (NHP) Limited Collateral and Structural Term Sheet 1 st May 2007
Southern Cross Healthcare
Resident Funding
Ashbourne Senior Living
Resident Funding
Active Care Partnerships
Resident Funding
Private 19%
Private 40%
Private 1%
Local Authority 81%
Local Authority 60%
Local Authority 99%
Source: Annual Report and Accounts 2006, Southern Cross Healthcare Group PLC
Employees
As of April 2007, the Southern Cross group employed approximately 33,000 people through its three brands. In order to keep operating
costs low whilst providing high quality services, the group maintains an active foreign recruitment programme and currently employs in
excess of 2,000 staff from eastern Europe and southeast Asia.
Other Tenants
Tenant Operator Group
Four Seasons Health Care
Limited
(“Four Seasons”)
Craegmoor Healthcare Co.
Limited (“Craegmoor
Healthcare”)
Methodist Homes for the
Aged
(“MHA”)
Care Management Group
Limited (“CMG”)
Britannia Healthcare Limited
(“Britannia Healthcare”) (1)
Hillcroft Nursing Homes
Limited (“Hillcroft Nursing
Homes”)
Description
The UK’s third largest independent provider of care home and specialist services (with a circa 4.5%
market share), established in the late 1980s. The company owns and operates circa 440 nursing and
specialised care homes throughout the UK. As of April 2007, Four Seasons had circa 21,000 staff
and cares for over 18,000 residents. The company operates its specialised hospitals and centres
under the Huntercombe Group brand, providing services for patients with varying needs such as
mental health, addiction, physical and neuron disabilities, brain injury rehabilitation and learning
disabilities.
Craegmoor Healthcare is the UK's leading independent provider of specialist care for adults and
younger people with a range of needs. These include learning disabilities, mental health problems,
physical disabilities, dementia and nursing care for older residents, as well as neurological illnesses
and acquired brain injuries. The business operates over 250 care homes, supported living units and
independent hospitals as well as specialist educational colleges, caring for and supporting over 5,000
people and employing more than 7,000 members of staff.
Methodist Homes for the Aged was founded by the Methodist Church in 1943 as an independent
charity to improve the lives of older people. In 1945 their first residential care home was opened in
Wallington, Surrey. From 1945 onwards, MHA has continued to develop new care homes.
MHA operates throughout the UK, providing care homes, housing and support services. The
organisation supports more than 8,500 older people in residential and nursing care homes, specialist
dementia care homes, sheltered housing schemes and community projects. MHA employs 4,000
staff and has more than 5,000 volunteers.
Incorporated in 1995 with the objective of providing care for those with learning difficulties and
associated needs. As an expanding company predominantly in the southeast of England and south
Wales, CMG employs around 1,200 people involved in the care and support of the 550 service users
in its 85 facilities and also at its head office in Wimbledon. Day services, therapeutic centres and a
school supplement the care services, as well as events such as the annual Residents’ Forum.
Britannia Healthcare is engaged in the provision of nursing home care for the elderly.
Hillcroft Nursing Homes is an independent provider of nursing home care with a range of care
services such as respite, temporary, permanent and convalescence care, elderly frail nursing and
elderly mentally infirm nursing.
(1) A petition for the winding up of Britannia Healthcare Limited has been filed by HM Revenue & Customs at Court in Edinburgh but as at the date of this document, there
is no further information on the status of the petition and no order to wind up has been granted (or dismissed) by the Court. The Managing Director of Britannia
Healthcare Limited has made a certified statement, confirming that the relevant amount due (of £51,408.14) has been paid in full in settlement thereof to HM Revenue &
Customs. For further details, please see the Offering Circular.
NEITHER THIS DOCUMENT NOR ANY COPY HEREOF MAY BE SENT OR TAKEN OR TRANSMITTED INTO THE UNITED STATES OR CANADA OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OR CANADA OR TO ANY U.S.
PERSON (WITHIN THE MEANING OF REGULATION S UNDER THE US SECURITIES ACT OF 1933, AS AMENDED) OR CANADIAN PERSON EXCEPT TO A LIMITED NUMBER OF QUALIFIED INSTITUTIONAL BUYERS AS DEFINED IN RULE 144A UNDER THE
U.S. SECURITIES ACT OF 1933, AS AMENDED. THIS DOCUMENT IS BEING FURNISHED TO YOU SOLELY FOR YOUR INFORMATION, IS CONFIDENTIAL TO CLIENTS OF CREDIT SUISSE, AND MAY NOT BE REPRODUCED OR REDISTRIBUTED TO ANY
OTHER PERSON. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS. THIS DOCUMENT DOES NOT CONSTITUTE AN OFFER TO SELL, OR A SOLICITATION OF AN OFFER TO PURCHASE,
ANY SECURITIES. ANY SUCH OFFER OF SECURITIES WOULD BE MADE PURSUANT TO A DEFINITIVE PROSPECTUS OR OFFERING CIRCULAR PREPARED BY THE ISSUER WHICH COULD CONTAIN MATERIAL INFORMATION NOT CONTAINED
HEREIN, AND TO WHICH THE PROSPECTIVE PURCHASERS ARE REFERRED. IN THE EVENT OF ANY SUCH OFFERING, THIS INFORMATION SHALL BE DEEMED SUPERSEDED, AMENDED AND SUPPLEMENTED IN ITS ENTIRETY BY SUCH
PROSPECTUS OR OFFERING CIRCULAR.
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