The New Zealand village operators are set to repay wage subsidies they received to protect jobs during the country’s level 4 COVID-19 lockdown in 2020.
Ryman Healthcare chairman Dr David Kerr (pictured above) told Times Online the financial stability provided by the $14.2 million in subsidy payments was a contributing factor to the company’s success during the lockdown.
Since January 2020, the company has spent more than $50 million on its response to the COVID-19 pandemic.
“I’m pleased to say we have not had a single case of Covid-19 among our more than 18,000 residents and staff,” Dr Kerr said.
Dr Kerr said the improved COVID-19 conditions in New Zealand meant the company was in a great position to repay the subsidy.
Meanwhile, Summerset says it will also repay the $8.6 million subsidy it received.
The operator qualified for the subsidy because its revenue dropped by more than 30% in April last year but it later declared an underlying profit of $45.1 million for the first half of 2020.