Radius Care Applies To List On NZX
Aged care and retirement village operator Radius Care has applied to list on the New Zealand Stock Exchange (NZX).
The listing will see the company direct list on the NZX Main Board. No new securities will be offered to the public in conjunction with the listing.
Founder and Board Chairman, Brien Cree, says the company is pursuing a listing with a view to further growth and expansion of its product offering.
“We’ve built a very solid track record of providing excellent aged care across New Zealand with a particular focus on high acuity and specialist care. In addition, we have also developed two boutique retirement villages. The development and villages space is one of the areas where we want to grow, however, we will remain a care-focused business. We have clear plans and targets in place for the next five years and beyond.”
“I can’t wait to ring that bell on listing,” Brien adds.
Established in 2003, Radius Care operates 22 aged care facilities and two retirement villages across New Zealand caring for over 1,700 residents.
Cree’s fellow Radius Care board members provide a breadth of both industry and listed company experience. They are Duncan Cook, Bret Jackson, Timothy Sumner, Mary Gardiner and Hamish Stevens.
Brien Cree will continue as Managing Director and Executive Chairman, focused specifically on the formulation and execution of Radius Care’s next phase of growth. Stuart Bilbrough, Radius Care’s CFO between 2010 and 2017, returned in 2020 as CEO responsible for all day-to-day activities.
“It was a great opportunity to bring back Stuart’s knowledge of our business, sound financial acumen and passion for the aged care sector,” says Brien. “It frees me up to set Radius Care’s strategy for growth and focus on expanding our offering in the aged care sector. We are very excited about the growth opportunities ahead of us.”
Radius Care expects to list on 10 December 2020.
Images can be found in this dropbox link: https://www.dropbox.com/sh/v8mbq0vpue69d8b/AACoicmja4fzHLzjsF1i9trAa?dl=0
About Radius Care
Radius Care was founded in 2003 and operates in the New Zealand aged care and retirement village sectors. It is a nationwide provider offering the full range of accommodation and care options giving residents the ability to “age in place”. Radius Care has a particular focus on high acuity and specialist care and has built a strong reputation as a leader in clinical care.
Today, Radius Care operates 22 aged care facilities, of which it owns three and leases 19. It also owns and operates two retirement villages and an online shop for specialist assisted-living products. The company employs over 1,500 people, including highly qualified healthcare staff who are committed to providing the very best in nursing care. For more information visit radiuscare.co.nz or check our Facebook page @RadiusCareNZ.