# 2026 Provider Market Refresh Tracker — NZ Seniors Sector | Field | Detail | | ------------------ | ------------------------------------------------------------------------------------------------- | | **Type** | Market intelligence tracker — cross-reference of 8 major aged care / retirement village providers | | **Status** | Reference — data sourced from existing KB captures, annual reports, and web captures | | **Date** | June 2026 | | **Classification** | Knowledge Base — Market and Industry Reports | --- ## Important Note > ⚠️ This tracker cross-references the eight major providers in the NZ seniors sector using data already captured in this Knowledge Base. All financial figures, village counts, and operational data should be verified against each provider's most recent published annual report before use in formal reporting or investment decisions. Source files in this KB are referenced where available. --- ## Quick Reference — Provider Overview | Provider | Ticker | Market Cap | Sector | | ---------------------- | --------------------------- | ------------------------------ | ----------------------------------------------- | | **Ryman Healthcare** | RYM (NZX/ASX) | Large cap | Retirement villages + aged care | | **Summerset Group** | SUM (NZX) | Large cap | Retirement villages + aged care | | **Metlifecare** | MET (NZX) | Public (EQT major shareholder) | Retirement villages + aged care | | **Arvida Group** | ARV (NZX) | Mid cap | Retirement villages + aged care | | **Oceania Healthcare** | OCA (NZX) | Mid cap | Retirement villages + aged care | | **Radius Care** | RAD (NZX) | Small cap | Aged care (ARC) + retirement villages (growing) | | **Bupa NZ** | Private (Bupa global, UK) | Private — global parent | Aged care + retirement villages | | **Heritage Lifecare** | Private (Adamantem Capital) | Private equity | Aged care (ARC-focused) | --- ## Provider Tracker ### 1. Ryman Healthcare | Column | Data | | --------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | **Provider** | Ryman Healthcare | | **Ownership** | Public — NZX (RYM) and ASX listed | | **Latest report captured** | **FY26 Annual Report** (PDF + source brief in KB: `11_Market_and_Industry_Reports/2026 - Ryman Healthcare - FY26 Annual Report.pdf` & `2026 - Ryman Healthcare - Source Brief - FY26 Annual Report.md`). FY24/25 statements also held. | | **Villages** | **47 villages** (38 NZ, 9 AU) — only 2 under construction. Key NZ regions: Auckland (14+), Canterbury (5+), Bay of Plenty (3+), Wellington (3+), Waikato (2+), Otago (2+). AU expansion in Victoria. 9,959 retirement units + 4,686 aged care beds. 15,547 residents. | | **Care homes** | Care centres integral to all village developments — continuum of care model. Rest home, hospital, dementia, and respite care. | | **Financial pressure signals** | **FY26 turnaround significant:** first positive FCF in a decade ($188M). Gearing reduced to 27.8% (lowest in sector). No bank maturities until FY31. Build rate sharply reduced (7→2 sites under construction). Land divestment target raised to ~$250M ($147M settled). PBTF loss narrowed to ($73M) from ($385M). Share price $2.28 (Jun 2026) — down 77% from 5 years ago, but up ~20% from results day. Dividend suspended, FY28 target. | | **Development pipeline** | **Sharply reduced.** Portfolio review identified 2,000+ units/beds in uncommitted development. Land divestment programme underway ($250M target). FY27 build guidance: 157–168 units/beds. Capex reducing to $150-180M. Focus on cash release from existing $12B+ portfolio ($500M target by FY29). | | **Care quality signals** | Generally strong — 4-year certification periods common across facilities. Low-Moderate risk profile in audit data. Documentation and medication management CARs noted but not systemic. | | **Political/regulatory exposure** | Retirement Villages Act review (ORA terms, DMF structure); building consent/construction regulation; immigration policy (workforce); aged care funding reform. | | **Source** | KB: `14_Provider_Brochures/2026 - Ryman Healthcare - Web Capture - Care Options Guide.md`; KB: `11_Market_and_Industry_Reports/2025 - Ryman Healthcare - Financial Statements.pdf`; KB: `02 Aged Residential Care/Facility Audit Intelligence/2026 Tracker - Rest Home Audit Reports and Corrective Actions.md` | --- ### 2. Summerset Group | Column | Data | | --------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | **Provider** | Summerset Group | | **Ownership** | Public — NZX (SUM) listed | | **Latest report captured** | **FY25 Annual Report + Q1 2026 metrics + Investor Day (May 2026)** (PDF in KB: `11_Market_and_Industry_Reports/2025 - Summerset - Annual Report.pdf`; Market update: `2026-06-07 Summerset - Market Update - FY25 Results and 1Q26.md`) | | **Villages** | 38+ villages across NZ. Key regions: Auckland (12+), Canterbury (4+), Bay of Plenty (3+), Wellington (3+), Waikato (3+), Otago (2+), Nelson/Tasman (2+). | | **Care homes** | Care centres in most villages — rest home, hospital, dementia, respite. Growing care capacity. | | **Financial pressure signals** | **FY25 underlying profit record $234.2M (+13%).** ORA sales 1,560 (+26%). Strong cash generation. Share price at 6-year low of $7.78 (43% discount to NTA $13.75) — down 35% YTD. Middle East conflict causing fuel/operational cost increases (~6%, ~$1M annualised). Construction tender escalation ~1.3% ($1.9M). Strong balance sheet with banking headroom. NZ Super Fund is substantial holder (Jun 2026). | | **Development pipeline** | **Strongest in sector.** 750-850 build guidance (650-700 NZ + 100-150 AU). ~420 units delivered YTD (May 2026). 44 villages completed/under development. AU expansion: Cranbourne North (first village centre completed), Chirnside Park (50% stage 1 presold), Torquay, Oakleigh South under construction. Mornington (Vic) planning permit lodged. Land bank: 5,499 retirement + 1,173 care homes. | | **Care quality signals** | Strong overall — average 3.8-year certification. However, Summerset Karaka had 3-year certification with 5 CARs including moderate-high risk staffing and restraint issues. Generally low-moderate risk profile. | | **Political/regulatory exposure** | Retirement Villages Act review; resource management reform (housing density); immigration (construction workforce); aged care funding. 2026 Reader's Digest Trusted Brands winner — strong consumer reputation. | | **Source** | KB: `14_Provider_Brochures/2026 - Summerset - Web Capture - Retirement Living Options.md`; KB: `11_Market_and_Industry_Reports/2026-06-07 Summerset - Market Update - FY25 Results and 1Q26.md`; KB: `11_Market_and_Industry_Reports/2025 - Summerset - Annual Report.pdf`; KB: `02 Aged Residential Care/Facility Audit Intelligence/2026 Tracker - Rest Home Audit Reports and Corrective Actions.md` | --- ### 3. Metlifecare | Column | Data | | --------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | **Provider** | Metlifecare | | **Ownership** | Public — NZX listed (MET). EQT is major shareholder (Sam Franklin on board). NOT taken private — 2021-22 takeover bid by EQT/Asia Pacific Village Group did not complete. | | **Latest report captured** | **HY26 Half-Year Report** (KB: `11_Market_and_Industry_Reports/2026 - Metlifecare - Source Brief - HY26 Results.md`); FY25 Annual Report (KB: `11_Market_and_Industry_Reports/2025 - Metlifecare - Annual Report.pdf`) | | **Villages** | **36 villages** (soon 39 via 3 new builds completing June 2026). Key regions: Auckland, Waikato, Bay of Plenty, Wellington, Canterbury, Otago (Wānaka), Northland (Mangawhai). ~7,300 residents. | | **Care homes** | Co-located care in 69% of villages. Premium aged care strategy with dedicated care suites. Rest home, hospital, dementia. | | **Financial position** | **Strong growth.** FY25: NPAT $66.4M (+25%), revenue $243.0M (+9.5%), ORA sales $546.4M (+17.6%). HY26: NPAT $42.7M, ORA sales $301.5M (+16.4%). Total assets $7.236B. Net gearing 38.8%. $1.05B refinancing completed Dec 2024 + $100M increase. | | **Development pipeline** | **Major growth phase.** $400M investment: Wānaka Peaks ($200M), The Tides Mangawhai ($110M), North Ridge Rototuna ($90M) — all delivering stage 1 May/June 2026. 4 additional greenfield sites: Havelock North, Pukekohe, Napier, Whenuapai. Manukau Golf Course site (5.5ha) conditionally acquired. | | **Care quality signals** | **Good — 4.0-year average certification** (strongest in sector alongside Ryman). Low CARs — documentation and food safety noted but not systemic. | | **Political/regulatory exposure** | Retirement Villages Act review; ORA terms and DMF structure; building consent/construction regulation; aged care funding; SEQ change-of-use provisions. Still NZX-listed so public disclosure obligations apply. | | **Board changes** | Paul McClintock stepped down as Chair (May 2026, after 5+ years). Murray Jordan appointed Chair. Laurissa Cooney appointed Director (Feb 2026). Sam Franklin (EQT) remains on board. | | **Source** | KB: `11_Market_and_Industry_Reports/2026 - Metlifecare - Source Brief - HY26 Results.md`; KB: `11_Market_and_Industry_Reports/2025 - Metlifecare - Annual Report.pdf`; KB: `02 Aged Residential Care/Facility Audit Intelligence/2026 Tracker - Rest Home Audit Reports and Corrective Actions.md` | --- ### 4. Arvida Group | Column | Data | | --------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | **Provider** | Arvida Group | | **Ownership** | Public — NZX (ARV) listed | | **Latest report captured** | FY2024 Annual Report (PDF in KB: `11_Market_and_Industry_Reports/2024 - Arvida - Annual Report.pdf`) | | **Villages** | ~30+ communities across NZ. Key regions: Auckland (8+), Canterbury (5+), Bay of Plenty (3+), Waikato (3+), Wellington (2+), Otago (2+), Nelson (2+), Taranaki (1+). | | **Care homes** | Integrated care model — rest home, hospital, dementia care. Smaller care component relative to village units compared to Ryman/Summerset. | | **Financial pressure signals** | Slower development pipeline vs larger peers; higher gearing levels; property market softness affecting ORA sales; smaller scale limits economies of scope. | | **Development pipeline** | Moderate — few new village developments; focus on adding units at existing sites. Land bank sufficient for 4+ years. | | **Care quality signals** | Moderate — 3-year certification for Cashmere Views and Cambridge facility. CARs on clinical governance, staffing documentation, care planning, medication safety. Low-moderate risk overall. | | **Political/regulatory exposure** | Retirement Villages Act review; aged care funding reform; competition from larger peers (Ryman, Summerset); regulatory costs of multiple small-to-medium locations. | | **Source** | KB: `11_Market_and_Industry_Reports/2024 - Arvida - Annual Report.pdf`; KB: `02 Aged Residential Care/Facility Audit Intelligence/2026 Tracker - Rest Home Audit Reports and Corrective Actions.md` | --- ### 5. Oceania Healthcare | Column | Data | | --------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | **Provider** | Oceania Healthcare | | **Ownership** | Public — NZX (OCA) listed | | **Latest report captured** | **FY26 Annual Report** (PDF + source brief in KB: `11_Market_and_Industry_Reports/2026 - Oceania Healthcare - FY26 Annual Report.pdf` & `2026 - Oceania Healthcare - Source Brief - FY26 Annual Report.md`). FY24 report also held. | | **Villages** | ~25+ villages across NZ. Key regions: Auckland (10+), Bay of Plenty (3+), Wellington (3+), Canterbury (3+), Waikato (2+). | | **Care homes** | Strong care focus — rest home, hospital, dementia. Higher proportion of care beds relative to total units compared to some peers. | | **Financial pressure signals** | **FY26 strategic reset delivered.** Record underlying EBITDA $97.7M (+20%). Net debt reduced $121.4M to $506.7M. Gearing 30.1% (lower end of target). Record sales 603 units (+16%). Cost savings $13.2M delivered ($20.4M annualised target). Care EBITDA per bed up 40% to $27k. Headline NPAT collapsed to $0.1M (accounting adjustments). No dividend FY26. Unsold stock still $227M. Share price $0.755 (53% discount to NTA $1.62). | | **Development pipeline** | **Moderate — focused.** Delivered 71 units in FY26. FY27 target: 81 units (Franklin Stage 2, Bream Bay, Elmwood). The Helier (Auckland premium): 74% sold/under application. 7 sites divested for $51.1M (exceeded 18-month target). No further large-scale divestments signalled. Focus on sell-down of remaining unsold stock. | | **Care quality signals** | Mixed — 3.4-year average certification. Some facilities (Te Irirangi, St Heliers) had 3-year certifications with moderate CARs. Cultural safety issues noted at Te Irirangi. Below Ryman/Summerset on consistency. | | **Political/regulatory exposure** | Retirement Villages Act review; aged care funding and subsidy reform; immigration policy (workforce); HealthCERT compliance costs. | | **Source** | KB: `11_Market_and_Industry_Reports/2026 - Oceania Healthcare - FY26 Annual Report.pdf`; KB: `11_Market_and_Industry_Reports/2026 - Oceania Healthcare - Source Brief - FY26 Annual Report.md`; KB: `02 Aged Residential Care/Facility Audit Intelligence/2026 Tracker - Rest Home Audit Reports and Corrective Actions.md` | --- ### 6. Radius Care | Column | Data | | --------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | **Provider** | Radius Care | | **Ownership** | Public — NZX (RAD) listed | | **Latest report captured** | **FY26 Annual Report** (PDF in KB: `11_Market_and_Industry_Reports/2026 - Radius Care - FY26 Annual Report.pdf`); also FY25 and FY24 reports in KB | | **Villages** | **Emerging retirement village operator** — Karori acquisition (14 ORA units), Belfast development (~80 villas), Hokitika development (55 villas). Historically ARC-focused but now growing retirement living. | | **Care homes** | **25 care homes** nationwide (12 owned, 13 leased). Key regions: Waikato (5+), Auckland (5+), Wellington (new — Karori), Bay of Plenty (2+), Canterbury (2+), other regions (5+). **1,988 care beds** + **162 independent living units**. | | **Financial pressure signals** | **Significant turnaround on track.** FY26: Revenue $202.3M (+14%), PBT $14.3M (+37%), NPAT $9.5M (+34%), Underlying EBITDA $27.4M (+17%), AFFO $12.7M (+44%). Leverage reduced to 2.5x (target achieved). Dividend up 50% to 2.2cps. Staff turnover 18% (industry best). FY20 loss of $3.3M turned into $14.3M PBT. | | **Development pipeline** | **Substantial.** Karori Village (Wellington) — 90 beds + 14 units, settled 26 May 2026. Belfast (Christchurch) — ~80 villas + ~100-bed care home (FY28). Hokitika — 80-bed care home + 55 villas (FY27-28). Up to **20 new 80-100 bed care homes** via capital-light funding (private landlords). Brownfield: 12 villas (Matamata + Clare House) by FY27. | | **Care quality signals** | **Improved.** 16 of 24 care homes hold maximum **4-year certification**. Staff turnover 18% (significantly better than industry peers ~30%+). eNPS +20 (25% improvement since 2023). 50% of management promoted internally. RadPro operating model with AI-enabled tools planned. Previous audit concerns (restraint, staffing, complaints, medication) will need monitoring in next cycle. | | **Political/regulatory exposure** | **High.** ARC funding reform is critical (Radius is pure ARC operator with growing care portfolio). Workforce regulation (immigration, pay equity). HealthCERT compliance. However, financial strength from FY26 provides buffer against adverse funding changes. | | **Source** | KB: `11_Market_and_Industry_Reports/2026 - Radius Care - FY26 Annual Report.pdf`; KB: `11_Market_and_Industry_Reports/2026 - Radius Care - FY26 Media Release.pdf`; KB: `11_Market_and_Industry_Reports/2026 - Radius Care - FY26 Investor Presentation.pdf`; KB: `11_Market_and_Industry_Reports/2025 - Radius Care - Annual Report FY25.pdf`; KB: `11_Market_and_Industry_Reports/2024 - Radius Care - Annual Report.pdf`; KB: `02 Aged Residential Care/Facility Audit Intelligence/2026 Tracker - Rest Home Audit Reports and Corrective Actions.md` | --- ### 7. Bupa NZ | Column | Data | | --------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | **Provider** | Bupa New Zealand | | **Ownership** | Private — subsidiary of Bupa Group (global healthcare, UK-headquartered). NZ subsidiary: Bupa Care Services NZ Ltd. Directors: Timothy Griffiths, Pedro Soro, Julie Sellar. | | **Latest report captured** | **FY2025 Annual Report (NZ subsidiary)** (KB: `11_Market_and_Industry_Reports/2025 - Bupa Care Services NZ - Annual Report.pdf`); **Bupa Group FY2025** (global results 5 Mar 2026); **FY25 NZ results** (KB: `11_Market_and_Industry_Reports/2026 - Bupa NZ - Source Brief - FY25 Results and Mangawhai Development.md`) | | **Villages** | **35 retirement villages** across NZ. | | **Care homes** | **40 care homes** (rest home, hospital, dementia, respite, palliative). 5,000+ residents. Second largest care home operator in NZ. | | **Financial position** | **Strong improvement.** NZ FY25: operating profit $76.7M (+52%), revenue $366M (+6%). Aged-care fees $303M. Occupancy 95% Australia & NZ (NZ 7-year high). Group: Revenue £18.2B, underlying profit £1,009M (+16%), Solvency II 187%. | | **Development pipeline** | **Active expansion.** Mangawhai Central (13ha, retirement village + care home, Northland's fastest-growing town). Whitby (Wellington) — new development. Parkstone Christchurch — major redevelopment. Riverstone Palmerston North — major redevelopment. Te Puke — major redevelopment. | | **Care quality signals** | **Moderate-good** — average certification 3.6 years. Most facilities on 4-year certification. Ross Home (Christchurch) had moderate CARs on pain management, wound care. 2026 Reader's Digest Gold Winner (Retirement Living). | | **Political/regulatory exposure** | **High exposure.** International ownership scrutiny (E tū/CICTAR report on effective tax rate). Aged care funding reform. Immigration policy (workforce). Retirement Villages Act review. Global parent may restructure NZ operations in future. | | **Source** | KB: `11_Market_and_Industry_Reports/2026 - Bupa NZ - Source Brief - FY25 Results and Mangawhai Development.md`; KB: `11_Market_and_Industry_Reports/2025 - Bupa Care Services NZ - Annual Report.pdf`; KB: `14_Provider_Brochures/2026 - Bupa NZ - Web Capture - Care Home Services.md`; KB: `02 Aged Residential Care/Facility Audit Intelligence/2026 Tracker - Rest Home Audit Reports and Corrective Actions.md` | --- ### 8. Heritage Lifecare | Column | Data | | --------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | **Provider** | Heritage Lifecare | | **Ownership** | Private — owned by **Adamantem Capital** (Australian PE firm, acquired 2017). **NOT HRL Morrison & Co** (previous KB error corrected June 2026). Properties owned by Centuria Capital Group via 2022 sale/leaseback ($291M). | | **Latest report captured** | **FY2025 Annual Report** (KB: `11_Market_and_Industry_Reports/2025 - Heritage Lifecare - Annual Report.pdf`); **CEO/Scale update** (KB: `11_Market_and_Industry_Reports/2026 - Heritage Lifecare - Source Brief - CEO Change and Scale Update.md`) | | **Villages** | **20 of 42 sites** offer retirement village units. Previously undercounted as "limited RV operations." | | **Care homes** | **42 Aged Residential Care Homes** (not ~25 as previously tracked). 2,400+ residents. Strong South Island presence. ARC-focused operator. | | **Financial position** | **Private — limited public data.** PE ownership structure. Portfolio rationalisation underway — 5 facilities sold (Beachhaven, David Lange, Hayman, Hillsborough, Parkhaven). 30-year triple-net lease structure with Centuria provides operational stability. | | **Development pipeline** | **Portfolio rationalisation focus.** Sale of non-core facilities. Refurbishment at existing sites (e.g. Redroofs Lifecare upgrade). New ELMO learning system implemented. Not actively expanding unit count — focused on quality improvement. | | **Care quality signals** | **Moderate** — 3-year average certification. Heritage Rangiora and Howick had moderate CARs including staffing, medication, infection control, restraint, complaints. Consistent but not exceptional. | | **Political/regulatory exposure** | ARC funding reform is critical. Private equity ownership scrutiny (Adamantem). Immigration policy (workforce). HealthCERT compliance. Investment horizon uncertainty. Collective agreement with NZNO/E tū (Aug 2025-Jul 2026). | | **CEO** | **Brent Pattison** (appointed Feb 2025), previously CEO of Oceania Healthcare. Background: investment banking, corporate strategy. | | **Source** | KB: `11_Market_and_Industry_Reports/2026 - Heritage Lifecare - Source Brief - CEO Change and Scale Update.md`; KB: `11_Market_and_Industry_Reports/2025 - Heritage Lifecare - Annual Report.pdf`; KB: `02 Aged Residential Care/Facility Audit Intelligence/2026 Tracker - Rest Home Audit Reports and Corrective Actions.md` | --- ## Cross-Provider Analysis ### Certifications and Care Quality | Provider | Avg Cert Period | Care Risk Trend | Key Audit Issues | | ------------------ | --------------------- | ------------------------ | ---------------------------------------------------------------- | | Ryman Healthcare | 4.0 years (strongest) | Low-Moderate | Documentation, medication management | | Summerset Group | 3.8 years | Low-Moderate | Staffing, care planning (Karaka outlier) | | Metlifecare | 4.0 years | Low | Documentation, food safety | | Arvida Group | 3.0 years | Low-Moderate | Clinical governance, staffing documentation | | Oceania Healthcare | 3.4 years | Moderate | Clinical care, cultural safety, staffing | | Radius Care | 3.7 years (improving) | Low-Moderate (improving) | Restraint, staffing, complaints (improving — 16/24 on 4-yr cert) | | Bupa NZ | 3.6 years | Low-Moderate | Pain management, wound care, infection control | | Heritage Lifecare | 3.0 years | Moderate | Staffing, restraint, care plans | ### Financial and Market Position | Provider | Public/Private | Scale | Development Pipeline | Financial Pressure | | ----------------- | ------------------ | ----------------------- | ------------------------------------------------------------------------------- | ------------------------------------------------------------------------------- | ---------------------------------------------------------- | | | Ryman Healthcare | Public | **Largest NZ operator** — 47 villages, $855.6M revenue, FCF positive $188M | **Sharply reduced** — 2 sites active, 157-168 FY27 build; land divestment $250M | **Low** (gearing 27.8%, no maturities until FY31) | | | Summerset Group | Public | **Rapidly growing** — $9.2B assets, $234.2M profit, 1,560 ORA sales | **Strongest pipeline** — 750-850 builds, 5+ AU sites active | **Moderate** — share price 6-yr low, fuel cost headwinds | | | Metlifecare | Public (EQT major) | Mid-large — $7.2B assets, $243M revenue | Major — 3 new villages completing Jun 2026 | Moderate — gearing 38.8% | | | Arvida Group | Public | Mid — smaller scale, slower growth | Moderate — few new sites | Higher — gearing | | | Oceania Healthcare | Public | **Mid — strategic reset complete.** Record EBITDA $97.7M, net debt down $121.4M | **Moderate — focused.** 81 units FY27, 7 sites divested | **Much improved.** Gearing 30.1%, positive FCF FY27 target | | | Radius Care | Public | **Small but growing** — 25 care homes, $202.3M revenue, $14.3M PBT | **Strong** — Karori, Belfast, Hokitika, 20 capital-light homes | **Low** (turnaround: leverage 2.5x, AFFO +44%) | | Bupa NZ | Private (global) | Large (care + villages) | Moderate | Moderate — global parent | | Heritage Lifecare | Private (PE) | Mid (ARC only) | Minimal | Moderate — PE ownership | ### Political/Regulatory Exposure | Provider | ARC Funding | RV Act Reform | Immigration | PE Scrutiny | Overall Rating | | ------------------ | ---------------------------------------- | ------------------------- | ----------- | ----------- | --------------- | | Ryman Healthcare | Medium | High | High | None | **Medium-High** | | Summerset Group | Medium | High | High | None | **Medium-High** | | Metlifecare | Low | High | Medium | Medium | **Medium** | | Arvida Group | Medium-High | High | High | None | **High** | | Oceania Healthcare | High | High | High | None | **High** | | Radius Care | **Critical** (improved financial buffer) | Low (growing RV exposure) | High | None | **High** | | Bupa NZ | **Critical** | High | High | High | **Critical** | | Heritage Lifecare | **Critical** | Low | High | Medium | **Critical** | --- ## Data Sources | Source | Location | Type | | ---------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------- | ----------- | | Ryman Healthcare Financial Statements (FY2024) | `11_Market_and_Industry_Reports/2025 - Ryman Healthcare - Financial Statements.pdf` | PDF | | Summerset Annual Report (FY2024) | `11_Market_and_Industry_Reports/2025 - Summerset - Annual Report.pdf` | PDF | | Metlifecare Annual Report (FY2025) | `11_Market_and_Industry_Reports/2025 - Metlifecare - Annual Report.pdf` | PDF | | Arvida Annual Report (FY2024) | `11_Market_and_Industry_Reports/2024 - Arvida - Annual Report.pdf` | PDF | | Oceania Healthcare Annual Report (FY2024) | `11_Market_and_Industry_Reports/2024 - Oceania Healthcare - Annual Report.pdf` | PDF | | Radius Care Annual Report (FY2026) | `11_Market_and_Industry_Reports/2026 - Radius Care - FY26 Annual Report.pdf` | PDF | | Radius Care Media Release (FY2026) | `11_Market_and_Industry_Reports/2026 - Radius Care - FY26 Media Release.pdf` | PDF | | Radius Care Investor Presentation (FY2026) | `11_Market_and_Industry_Reports/2026 - Radius Care - FY26 Investor Presentation.pdf` | PDF | | Radius Care Source Brief (FY2026) | `11_Market_and_Industry_Reports/2026 - Radius Care - Source Brief - FY26 Annual Report.md` | Markdown | | Radius Care Annual Report (FY2025) | `11_Market_and_Industry_Reports/2025 - Radius Care - Annual Report FY25.pdf` | PDF | | Bupa Care Services NZ Annual Report (FY2025) | `11_Market_and_Industry_Reports/2025 - Bupa Care Services NZ - Annual Report.pdf` | PDF | | Heritage Lifecare Annual Report (FY2025) | `11_Market_and_Industry_Reports/2025 - Heritage Lifecare - Annual Report.pdf` | PDF | | RVA Annual Report (2024) | `11_Market_and_Industry_Reports/2024 - RVA - Annual Report.pdf` | PDF | | NZNO Care in Crisis Report (2025) | `11_Market_and_Industry_Reports/2025 - NZNO - Care in Crisis Aged Care Staffing Report.pdf` | PDF | | Rest Home Audit Tracker | `02 Aged Residential Care/Facility Audit Intelligence/2026 Tracker - Rest Home Audit Reports and Corrective Actions.md` | Markdown | | Ryman Care Options Guide | `14_Provider_Brochures/2026 - Ryman Healthcare - Web Capture - Care Options Guide.md` | Markdown | | Summerset Living Options | `14_Provider_Brochures/2026 - Summerset - Web Capture - Retirement Living Options.md` | Markdown | | Bupa NZ Care Home Services | `14_Provider_Brochures/2026 - Bupa NZ - Web Capture - Care Home Services.md` | Markdown | | Sapere ARC Funding Review | `00_KNOWLEDGE_BASE_INDEX.md` (NZ-008) | PDF indexed | | NZIER ARC Equity Analysis | `00_KNOWLEDGE_BASE_INDEX.md` (NZ-006) | PDF indexed | | E tū/CICTAR Tax Report | `00_KNOWLEDGE_BASE_INDEX.md` (NZ-011) | PDF indexed | --- ## Cross-References | File | Relevance | | ------------------------------------------------------------------------------ | ------------------------------------------ | | `2026 Provider Comparison Matrix - Financial Operational and Care Risk.md` | Detailed comparison across all 8 providers | | `2026 Tracker - Rest Home Audit Reports and Corrective Actions.md` (Folder 02) | Facility-level care quality data | | `2026 Facility Audit Intelligence Index.md` (Folder 02) | Audit interpretation framework | | `2026 Party Position Matrix - Aged Residential Care.md` (Folder 16) | Political context | | `00_KNOWLEDGE_BASE_INDEX.md` | Full PDF inventory with provider reports | | `14_Provider_Brochures/` (Folder 14) | Individual provider brochures and guides | --- _Part of the NZ Seniors Knowledge Base — Market and Industry Reports layer_ _Last updated: June 2026_