Listed retirement village operator says chronic underfunding will result in a wider public 'healthcare problem' as retirement sector becomes unprofitable.
Net profit: Down 98% to $4.8m from $257.8m last year, on impairments of $283.9m
Main takeaway: Company says it will shift more of its development pipeline to Australia, in the wake of aged care funding shortfalls in NZ. That's also in the wake of write-downs on impairments and one-off costs and lower property carrying values.
Ryman Healthcare executive chair Dean Hamilton says New Zealand’s aged care sector is underfunded and it should take Australia’s lead in revamping its model.
Hamilton said the sector was suffering from “weekly fee shortfalls” in the wake of sharp rises in rates, electricity, insurance and
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Net profit: Down 98% to $4.8m from $257.8m last year, on impairments of $283.9m
Main takeaway: Company says it will shift more of its development pipeline to Australia, in the wake of aged care funding shortfalls in NZ. That's also in the wake of write-downs on impairments and one-off costs and lower property carrying values.
