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Ryman Healthcare announce expansion

July 26, 2004

Ryman Healthcare announce expansion to Shona McFarlane Retirement Village in Wellington

Ryman Healthcare today announced it is expanding its Shona McFarlane retirement village in Wellington.

Ryman, one of New Zealand’s most experienced retirement village providers, confirmed they had bought a 2ha site for resident townhouses next to the existing village in Lower Hutt.

The Shona McFarlane village was opened in 2000 and currently has over 200 residents.

Ryman’s other Wellington villages are the Rita Angus village in Kilbirne and the Malvina Major village in Khandallah. The Rita Angus in the eastern suburbs was extended by 29 new hospital rooms and 33 new apartments last year.

Ryman managing director Kevin Hickman said they were pleased to be able to expand this already successful village in the Lower Hutt.

``We are delighted to be able to purchase the land which will result in more people being able to enjoy the village. This purchase follows our acquisition of the Wanganui site in April and the opening later this year of the Prince Alexandra village in Napier.

’’This latest development reflects our plans for growth and is in line with our target of doubling in size every five years,’’ Mr Hickman said.

Ryman is an NZSX50 company and in May reported an annual profit of $18.4 million – up 20 percent on last year. Their annual meeting will be held in Christchurch on August 6.

The company operates 13 retirement villages from Auckland to Invercargill and provide homes and care services to more than 2200 New Zealanders, employing more than 1100 staff. It has won the Australasian Aged Care Housing Award for the Best Retirement Village in New Zealand for three successive years.

ENDS


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