NZ private village and aged care operator Radius Care plans NZX listing as it looks to expand

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The retirement village reforms being debated in New Zealand are clearly no deterrent to the country’s thriving industry.

Established in 2003, the operator – which has 22 aged care homes but just two retirement villages with over 1,700 residents – says it will file an application to list on the New Zealand Stock Exchange (NZX) this week.

No new shares will be issued as the listing is only to enable further growth and expansion, according to founder and Chairman, Brien Cree (pictured right).

“We’ve built a very solid track record of providing excellent aged care across New Zealand with a particular focus on high acuity and specialist care,” Mr Cree said.

“In addition, we have also developed two boutique retirement villages. The development and villages space is one of the areas where we want to grow, however, we will remain a care-focused business. We have clear plans and targets in place for the next five years and beyond.”

“I can’t wait to ring that bell on listing,” he added.

Mr Cree will stay on as Managing Director and Executive Chairman, while Stuart Bilbrough, Radius Care’s CFO between 2010 and 2017, returned in August this year 2020 as CEO.

Radius will join Ryman Healthcare, Summerset Group, Arvida Group and Oceania Healthcare among the NZ village and aged care operators listed.

Metlifecare left the NZX in October this year after its takeover by Swedish company EQT Infrastructure.