MOWLAM Mowlam Healthcare, headquartered in Limerick, describes itself as one of Ireland’s largest independent providers of nursing homes and specialist units, with a total of 1,400 beds in 25 elderly care facilities.
The business was established by Limerick developers John Shee and Joseph Hanrahan and former chairman of the Shannon Airport Authority Pat Shanahan. The two developers had receivers appointed by Nama to development firms they owned in 2012, having earlier resigned from the board of Mowlam.
A spokesman said Mowlam Healthcare was always looking for opportunities to expand to meet the growing need for care of older people in Ireland. “Mowlam has expanded through a combination of acquisition, leasing and management of long-term care facilities and we plan to continue this strategy.”
The current shareholders of the group are Shanahan, Alister McGill and David Leahy. The holding company, Mowlam Healthcare, is unlimited and does not publish accounts. Its shares are held by Sezana Group, which has an address in the British Virgin Islands.
SILVER STREAM The Silver Stream Healthcare Group, headquartered in Ratoath, Co Meath, was founded in 1993 by its chief executive Joe Kenny. It has seven nursing homes and caters for more than 300 residents.
The parent company for the group, Rempress Holdings, reported pre-tax profits of €3.8 million and turnover of €14.2 million in 2013. The results did not include the construction arm of the group, to which a receiver was appointed in 2010. The group had an average of 246 employees in 2013, at a cost of €7.56 million.
The group “operates in a competitive and challenging sector impacted by increasing regulation and standards in the healthcare sector, combined with the potential for diminished HSE patient contributions and increased external competition”, the accounts note.
BEECHFIELD Beechfield runs four nursing homes in Dublin, the most recent to open being the Mount Hybla in Castleknock. Lioncourt Capital, the investment business founded by David Andrews and Michael Tunney, bought into the business in 2014, with Andrews joining the Beechfield board alongside Tom Rowland, Damian Gallagher and Mark Hutch. Consolidated accounts for the year to April 2014 show a turnover of €10 million, up from €8.4 million, and staff costs of €5.79 million. The average number of employees during the year was 178, of which 169 were nurses and care assistants. This was an increase in total staff from an average of 130 the previous year.
The group accounts said pre-tax profits, at €420,260, down from €1.3 million the previous year, reflected the costs of the Mount Hybla start-up. They also said the group had negotiated a long-term contract with the NTPF up to end 2017, but that there was a risk that the Government could change its policy in relation to the Fair Deal scheme in a way that could result in a fall in the annual rates being paid by the nursing homes.
FIRSTCARE The FirstCare nursing home group is owned by Mervyn Smith and has two nursing homes in Dublin, two in Co Wicklow and one in Co Kildare. Clanwilton Holdings Ltd, a subsidiary within the group which provides support and administration for the nursing homes, had accumulated profits of €4 million at the end of 2013, according to abridged accounts, up from €3 million at the end of the previous year. CARE CHOICE Care Choice began operations 20 years ago with Paul Kingston and Aisling Lane being the two shareholders actively involved in the day-to-day management of its five Munster nursing homes; Dr Tom English provided medical care in two of the homes.
Late last year Care Choice was reported to have been sold to Emerald Investments, the investment vehicle for financier Alan McIntosh, for about €30 million.
The group reported turnover of €17.3 million in 2013, up from €16.9 million the previous year, and pre-tax profits of €2.4 million, down from €2.6 million. There was an average of 422 staff during the year, at a total cost of just under €10 million.
HARVEY HEALTHCARE The Harvey Healthcare group, which has five Dublin nursing homes, is owned by Seamus Brady and Derry Shaw. There is little by way of financial information available in the Companies Registration Office.
One of the companies involved, Willoway Nursing Home Ltd, trading as Harvey Nursing Home, with an address in Terenure, Dublin, reported a pre-tax profit of €888,000 in 2013, up from €740,000 the previous year.
