Metlifecare

Metlifecare is one of New Zealand's largest retirement village providers. They currently own and operate 25 retirement villages throughout the North Island of New Zealand.

Metlifecare Ltd
TypePublic
NZX: MET
IndustryAged care
Founded1994 (IPO)
FounderCliff Cook
Headquarters
Auckland
,
New Zealand
Areas served
NZ
Key people
CEO - Glen Sowry,
Chairman - Kim Ellis
ProductsRetirement villages
OwnerPublic listing company (NZX)
Number of employees
1000+ (2014)
Websitewww.metlifecare.co.nz

They have been listed on the NZX since 1994,[1] and the Australian ASX main board since October 2013.[2] They are a component of the NZX 50 Index.

Competitors of Metlifecare include BUPA, Ryman Healthcare and Summerset Holdings.

History

Metlifecare was founded and first listed on the NZX in 1994 by NZ businessman Cliff Cook. Cook is no longer involved with the company but is now developing other retirement village projects in the UK.[3]

Metlifecare acquired the Private Life Care assets of Retirement Villages New Zealand Limited and Vision Senior Living Limited in May 2012 as part of a three way merger. [4][5] This grew Metlifecare to a village portfolio of 25 as at December 2015.[6]

Major investors in Metlifecare now include Infratil, one of New Zealand's largest infrastructure investor, in partnership with the New Zealand Superannuation Fund[7]

In December 2019, Metlifecare received an unsolicited buyout offer from EQT Management, a Swedish funds manager. After a couple of weeks of negotiation, the Metlifecare board has elected to progress the scheme of arrangement that would lead to a completed buyout.[8]

References
  1. Gaynor, Brian (19 January 2013). "Five-year listings drought set to break". NZ Herald.
  2. Walters, Laura (22 October 2013). "Big players tipped for Metlifecare". Fairfax Media.
  3. "COOK Cliff". The National Business Review. Retrieved 13 July 2016.
  4. Gray, Jamie (7 May 2012). "Metlifecare announces $216m retirement village merger". NZ Herald.
  5. Krupp, Jason (7 May 2012). "Metlifecare to merge with Vision Snr Living". businessday. stuff.co.nz.
  6. "Ground-breaking pay rise for Metlifecare staff". Radio NZ. 26 August 2015.
  7. McBeth, Paul (25 October 2013). "Infratil, NZ Super Fund nab nearly 40% of Metlifecare". The National Business Review.
  8. "Metlifecare board backs new takeover offer by Swedish fund manager". Stuff. Retrieved 28 January 2020.


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