# Source Brief — Heritage Lifecare: CEO Change, Scale Update & Portfolio Changes

**Type:** Source Brief — Provider Watch  
**Date:** 8 June 2026  
**Classification:** Market and Industry Reports / Provider Watch  
**Sources:** Adamantem Capital, Heritage Lifecare website, E tū/CICTAR report, Top South Now/Nelson Weekly

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## Summary

Heritage Lifecare appointed a new CEO in February 2025, updated scale data shows it operates 42 ARC homes (not ~25 as previously tracked), and portfolio rationalisation has seen sale of 5 facilities. The company's ownership is Adamantem Capital (Australian PE), not HRL Morrison & Co.

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## CEO Change: Brent Pattison (appointed Feb 2025)

- Previously **CEO of Oceania Healthcare**
- Background in investment banking, corporate strategy, technology
- Described strategic focus: "growing with heart", maintaining local community connections
- Heritage Lifecare supports **2,200+ residents** across New Zealand
- Quote: "We're building something grounded and meaningful, with connection at the centre"

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## Current Scale (per Adamantem Capital Sustainability Report 2025)

| Metric                                  | Est. Previous KB Figure | Updated Figure        |
| --------------------------------------- | ----------------------- | --------------------- |
| Aged Residential Care Homes             | ~25                     | **42**                |
| Sites offering retirement village units | Limited                 | **20 of 42**          |
| Residents                               | Not tracked             | **2,400+**            |
| Ownership                               | HRL Morrison & Co       | **Adamantem Capital** |

- Heritage operates across both North and South Islands with a strong presence in smaller communities
- Described by CEO as having "local roots — we're not a big-city brand dropped into small towns"

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## Portfolio Changes

### Facility Sales (per 2024 financial reports, cited in E tū/CICTAR May 2025 report)

Five facilities were sold:

1. Beachhaven
2. David Lange
3. Hayman
4. Hillsborough
5. Parkhaven

### Centuria Sale/Leaseback (2022)

- $291M sale of 38 care home and retirement village properties to Centuria Capital Group (ASX:CNI)
- Heritage retains 30-year triple net lease with rights of renewal
- First sale and leaseback of a NZ retirement village portfolio

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## Labour Agreements

- Collective agreement with NZNO and E tū: **1 August 2025 – 31 July 2026**

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## Ownership Structure

- **Owner:** Adamantem Capital (Australian private equity firm)
- **Properties owned by:** Centuria Capital Group (via sale/leaseback)
- Heritage was acquired by Adamantem in 2017
- **Not owned by HRL Morrison & Co** (this was a previous KB error)

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## Sources

- Adamantem Capital portfolio page (adamantem.com.au/portfolio/heritage-lifecare/)
- Heritage Lifecare Leadership Team page (heritagelifecare.co.nz/about-us/leadership-team)
- Top South Now / Nelson Weekly — CEO Brent Pattison feature (Sept 2025)
- E tū/CICTAR — Aged Residential Care Funding Report (May 2025)
- Simpson Grierson — Heritage Lifecare deal summary (2022)
- NZNO collective agreement filing
- All accessed 8 June 2026

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## KB Links

- **Tracker:** `11_Market_and_Industry_Reports/2026 Provider Market Refresh Tracker.md`
- **Annual report:** `11_Market_and_Industry_Reports/2025 - Heritage Lifecare - Annual Report.pdf`