€100m retirement plan
Irish Examiner, 27 April 2005
SONAS Healthcare Group is to invest €100 million in retirement care centres over the next decade.Chief executive Gerry Jordan said 25-30 facilities will be built over the period.
"Key locations are in the process of site selection, with centres planned for Limerick, Ennis, Galway, Carlow and Wexford and the greater Leinster area over the next two years," he said.
Explaining the investment plans of the group, Mr Jordan said the increasingly healthy elderly population required the provision of a lifestyle choice.
That include fully independent accommodation requirements together with proper security and maintenance.
"They require a total package of care gravitating from completely independent to totally independent and all stages of care in between,"
he said.
The value of Sonas care centres will not be limited to offering a secure community for older people - the emphasis will be on independence and recovery.
"Research has shown that good health among older people is better maintained by encouraging independence and the Sonas care centre model compliments this practice through independent living units,"
said Mr Jordan.
He also pointed out that the units being planned will also cater for people recovering from illness or elective surgery.
"People can lead a normal life and have acess to everylevel of care they need," added Mr Jordan.
A recent report by Goodbody Stockbrokers said the number of people over 65 by 2026 is projected to rise to over 767,300 from its 2003 base of 436,000.
"By that time this group will constitute 16.4% of a population so immediate investment is fully justified." said Mr Jordan.
The Sonas Group is currently developing a site in Athlone that features 16 independant units while existing facilities in Roscommon and Sligo have planning permission for additional independent living units.
