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Opportunity to make positive changes

Immediate Media Release

Rest home receiver has the opportunity to make positive changes

The official receiver of NZ Lifecare Investments’ six rest homes has the opportunity to make changes for the better, says Age Concern New Zealand President Jill Williams.

The rest home sector has been in transition the past few years. Not-for-profit organisations, such as churches, have left the industry. They have been replaced by corporates, mostly multi-nationals.

Age Concern says this change is not necessarily for the worse.

“Handled correctly, everyone can be winners if the capital investment and professional management they can bring are used to increase the welfare of rest home residents.”

In the case of the six rest homes owned by NZ Lifecare Investments, Age Concern New Zealand is calling on the receiver to consider the residents, not just the creditors when restructuring the company.

“We realise this is an anxious time for the residents and their families, and we’re heartened by the receiver’s assurance the homes will stay open. It’s important the receiver continues keeping everyone informed and involved.

“Rest homes are living vibrant communities and in taking on these six rest homes, the receiver has become responsible for the welfare of older people and their caregivers.”

“There is a fear that new owners can use takeovers as opportunities to change workers’ terms and conditions, usually for the worse. High staff turnover and low pay are affecting the industry. We’re calling on rest home owners not to take the financial problems out on the nurses and other staff,” Jill Williams says.

Age Concern’s message to the receiver, Corporate Finance, is to take this opportunity to make this a change for the better.


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