Earl Gasparich has departed his role at Oceania Healthcare after six-and-a-half years to take up the reins at Metlifecare, following its $1.3 billion takeover by Swedish private equity firm EQT last year.
As we reported here, New Zealand’s High Court gave the takeover the green light last October almost a year after an initial offer ended up in the courts after EQT withdrew their first bid, citing the impact of COVID on the operator’s value.
Today, Metlifecare’s assets are valued at $3.8 billion according to its latest half yearly results.
Gasparich will succeed outgoing CEO Glen Sowry, who will finish up in the role on 31 March after five years.
“The Board believes this is the right time for a transition in CEO with the company in healthy shape and with a new and ambitious strategy which has recently been set,” Paul McClintock, Metlifecare’s Chair, said.
Metlifecare currently has 25 villages and around 5,600 residents in New Zealand.