Ryman Healthcare rumoured to be targeting Australian

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The talk is that New Zealand’s Ryman Healthcare is inspecting numerous Australian villages, with care attached, to purchase. Established in Christchurch in 1984, Ryman Healthcare operates 21 retirement villages with 4,500 residents and over 2,000 staff. The company is a six times winner of Best Retirement Village in New Zealand. Discussion is that Australia is its growth market despite plans to open two new NZ villages each year. In November 2009, they posted an operating profit of $29 million for the first half, up 12% on last year and a new record for the company. Unrealised property valuation increases lifted the reported profit to $38.5 million, up 10% on the previous year. Operating cash flows were up 30% to $79 million for the half.