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About

Ryman Healthcare

  1. Business / Trading Name: Ryman Healthcare Limited

  1. Company Number: 337739

  1. NZBN: 9429039629517

  1. Entity Type: NZ Limited Company (Publicly listed)

  1. Business Classification: Q860140 – Retirement village operation (with rest home or hospital facilities)

  1. Industry Category: Healthcare and Aged Care Services

  1. Year Founded: 1984

  1. Addresses:

    • Registered Office & NZ Head Office: 92D Russley Road, Russley, Christchurch 8042, New Zealand

    • Australian Office: Level 5, 6 Riverside Quay Southbank, Victoria, 3006 Australia

  1. Website URL:

https://www.rymanhealthcare.co.nz

  1. LinkedIn URL: https://www.linkedin.com/company/ryman-healthcare

  1. Company Hub NZ URL: https://www.companyhub.nz/companyDetails.cfm?nzbn=9429039629517

  1. NZ Companies Office URL: https://app.companiesoffice.govt.nz/companies/app/ui/pages/companies/337739

  1. Social Media URLs:

  1. Ultimate Holding Company: None (Ryman Healthcare Limited is the ultimate parent of the Ryman group)

  1. Key Shareholders: (approximate holdings as listed on NZ Companies Office)

  1. 41.41% 644859 - New Zealand Central Securities Depository Limited

  2. 5.69% 8146202 - Karori Capital Limited

  3. 5.05% 640479 - Custodial Services Limited

  4. 3.61% 7836542 - Hickman Family Trustees Limited

  5. 2.85% 148341 - Forsyth Barr Custodians Limited

  6. 1.52% 2198347 - New Zealand Depository Nominee Limited

  7. 0.47% 1472314 - PT (Booster Investments) Nominees Limited

  8. 0.44% 2338621 - JBWere (NZ) Nominees Limited

  9. 0.35% 1185808 - FNZ Custodians Limited

  10. 0.33% 2338621 - JBWere (NZ) Nominees Limited

16. Leadership:

  1. Executive Chair: Dean Hamilton (appointed 2022, interim; confirmed 2023)

  2. Group Chief Executive Officer: Naomi James (since 4 Nov 2024)

  3. Chief Financial Officer: Robert (Rob) J. Woodgate (appointed 2024)

  4. Chief Operating Officer: Marsha Cadman (appointed 2024)

  5. Board of Directors: James Miller; Paula Jeffs; Scott Pritchard; Anthony Leighs; Kate Munnings; David Pitman (independent directors). (Former long-serving Chair Dr. David Kerr retired 2022; director Claire Higgins served 2014–2024.)

  1. Staff: Approximately 7,700 employees (as of late 2024), across New Zealand and Australia.

  1. Staff with Previous Government Roles:

    • Scott Pritchard – Former Chair of the Property Council NZ and member of Health NZ’s Capital & Infrastructure Committee (left that public role in 2024 to join Ryman’s board).

(No other senior Ryman staff or directors identified as ex-MPs or ex-ministers. Ryman largely recruits from private-sector leadership rather than former politicians.)

  1. Past Employees:

    • Kevin Hickman – Co-founder; former Executive Chairman/CEO (1984–2006). Retired from board 2018.

    • John Ryder – Co-founder; joint CEO until 2002 (left company in 2002).

    • Simon Challies – Chief Executive 2006–2017 (succeeded Hickman).

    • Gordon MacLeod – Chief Executive 2017–2021.

    • Richard Umbers – Chief Executive 2021–Apr 2024 (resigned amid performance issues).

    • Dr. David Kerr – Chair of the Board 1999–2022 (oversaw listing and growth).

  1. Clients: Not applicable. (Ryman Healthcare is not a consultancy; it provides retirement living services directly to resident customers, not external lobbying clients.)

  1. Industries / Sectors Represented: Retirement villages and senior living; aged residential care (rest homes, hospitals, dementia care); property development for retirement communities.

  1. Publicly Disclosed Engagements:

    • Appeared before Parliament’s Finance and Expenditure Select Committee (Mar 2018) on the Overseas Investment Amendment Bill, jointly lobbying for an exemption for retirement village operators.

    • Submitted to Parliament’s Health Select Committee (2023) inquiry into aged care funding, arguing that government under-funding was pushing the sector to “breaking point”. Ryman’s submission warned current funding is “insufficient to maintain or modernise” care facilities.

    • Participated in the Retirement Villages Act 2003 review (2022–present) by the Ministry of Housing and Urban Development, with Ryman publicly supporting updates “to align with sector best practice” and indicating openness to regulatory changes (e.g. a sector Ombudsman).

    • Regular engagement with government during Covid-19: for example, Ryman applied for wage subsidies during the 2020 lockdown (see Controversies) and liaised with officials on pandemic response in aged care.

  1. Affiliations:

    • Member of the Retirement Villages Association of New Zealand (RVA) – Ryman is an accredited member of the industry’s peak body and has jointly lodged submissions with the RVA on regulatory matters.

    • Member of the New Zealand Aged Care Association (NZACA) – Ryman (as a major aged-care provider) is a prominent member of NZACA, which lobbies on rest home funding and workforce issues.

    • Participant in general business networks (e.g. listed on NZX, involved in NZ Business Hall of Fame via co-founders) but no known direct affiliation with political parties or think-tanks.

  1. Sponsorships / Collaborations:

    • Annual Charity Partnership Programme: Each year Ryman staff and residents select a charity and fundraise company-wide. Past charity partners include Leukaemia & Blood Cancer NZ, Hato Hone St John (St John Ambulance), the Fred Hollows Foundation, Prostate Cancer Foundation, Alzheimer’s NZ, Breast Cancer Foundation, and Melanoma NZ. Ryman matches donations dollar-for-dollar (up to NZ$250k) and has donated over $5 million to charitable causes since 1999.

    • Health Collaborations: Ryman sponsors community health initiatives, such as the Stroke Foundation’s mobile blood-pressure testing van, and promotes public health events for seniors through its villages and social media.

    • Educational/Research Links: The company established the Ryman Prize (see Events) to encourage innovation in eldercare, and co-sponsors conferences or seminars on ageing (often in partnership with sector associations or universities).

  1. Events (organised by Ryman):

    • The Ryman Prize: An annual NZ$250,000 global award founded in 2015 by Ryman Healthcare for the “world’s best” innovation or achievement enhancing quality of life for older people. Ryman hosts an award ceremony each year – frequently involving New Zealand’s Prime Minister or Governor-General as presenter – as part of its public profile in the aged care sector. This high-profile event reinforces Ryman’s thought-leadership role in eldercare.

    • Retirement Village Openings: Ryman often holds official opening ceremonies for new villages, inviting local MPs, ministers or mayors. These events (while ostensibly community celebrations) double as lobbying opportunities, allowing Ryman to showcase its investment and build goodwill with policymakers.

    • Investor & Industry Presentations: Ryman’s leadership frequently present at annual shareholder meetings and industry conferences (e.g. RVA annual meeting). Such events, though business-focused, are often attended by government stakeholders given Ryman’s influence in housing and healthcare for seniors.

  1. Political Donations: None (declared). Ryman Healthcare’s policy explicitly prohibits corporate donations to political parties or candidates. The company’s Annual Reports state that no political donations have been made (NZ$0 in 2022 and 2023). There is no public record of Ryman itself donating to any party. (While individuals associated with Ryman may donate in a personal capacity, no significant personal donations by board or executives have been publicly reported.)

  1. Controversies:

    • Covid-19 Wage Subsidy: In 2020 Ryman claimed NZ$14.2 million under the government’s wage subsidy scheme during the national lockdown. This sparked criticism since Ryman remained profitable that year (reporting a $212m half-year profit). Amid public and political pressure, Ryman’s board announced it would repay the $14.2m in December 2020, following peers Summerset and Metlifecare in returning subsidy funds. The initial acceptance of taxpayer funds despite healthy profits was seen as poor optics, and Ryman conceded that repaying was “the right thing to do”.

    • Care Standards and Complaints: Ryman has faced isolated but high-profile complaints regarding care in its rest homes. In one notable case, the family of a resident at Julia Wallace Retirement Village (Palmerston North) reported serious care failings in 2016–17 – including neglect of basic needs – leading to a Health & Disability Commissioner complaint. Ryman ultimately apologised and refunded NZ$10,300 in fees to the family in 2019 as compensation for the substandard care. The incident highlighted understaffing and lapses in care, undercutting Ryman’s “good enough for Mum” quality promise. Consumer advocates have pointed to this and similar cases as evidence of systemic staffing pressures in the aged care industry.

    • Contract & Fee Criticisms: Ryman’s retirement village contracts (like those of industry peers) have drawn scrutiny for onerous terms. The company charges a Deferred Management Fee (up to 20%–30% of unit price) and retains any capital gain on resale of units, which resident advocates argue is unfair. The Retirement Commissioner and resident groups have criticised delays in addressing these issues, noting that residents can be left with little equity and limited rights when exiting villages. Ryman’s leadership has generally defended its model as necessary for funding care and new development, but this tension has fueled calls for law changes.

    • Financial Strain & Capital Raise: In 2023, Ryman’s aggressive expansion led to rising debt and a credit downgrade, creating controversy in the business press. The company froze dividends and undertook a deeply discounted NZ$902 million equity capital raise to shore up its balance sheet – which diluted existing shareholders (many of them retirees). Some analysts criticised Ryman’s prior management for over-leveraging, and the episode tarnished its reputation for steady growth. While not a political scandal per se, the financial stumble has made Ryman more cautious, with projects paused (e.g. a major Takapuna development). This has indirect social impacts, potentially slowing the supply of new aged care beds.

(Overall, Ryman’s controversies centre on balancing profit and care: receiving public subsidies, ensuring quality care, and treating residents and investors fairly. These issues recur in debates about the retirement village sector’s regulation.)

  1. Other Information of Note:

    • Market Position: Ryman is the largest retirement village operator in New Zealand and a significant player in Australia. It owns 49 villages (as of late 2024) housing over 14,600 residents. The company listed on the NZX in 1999 and grew to a multibillion-dollar market cap, expanding into Victoria, Australia from 2014. A dual-listing on the ASX is being pursued to attract more investors. Ryman’s success helped spur a booming retirement village industry in NZ, but also raised questions about regulatory capture (see Part Two).

    • Founders’ Legacy: The name “Ryman” combines the surnames of founders Ryder and Hickman. Kevin Hickman’s oft-quoted mantra was that a village must be “good enough for Mum” – a principle that shaped Ryman’s marketing and culture. Hickman remained a significant shareholder and was influential in New Zealand business; he was made an Officer of the NZ Order of Merit for philanthropy. His passing in 2024 marked the end of an era.

    • Awards & Reputation: Ryman has frequently been voted “Most Trusted Brand” in the retirement village/aged care category (winning that title at least seven times by 2021). It promotes this trust branding heavily. The company’s strong public image has at times been at odds with critical media reports on village contract issues – an example of integrity washing versus on-the-ground realities.

    • Corporate Governance: Unusually, Ryman did not have to raise new equity capital from its 1999 IPO until 2023, funding growth through retained earnings and debt. Its board historically had very long tenures (founders and early directors staying decades). In 2022–23, Ryman undertook a board refresh, bringing in governance experts like Dean Hamilton and James Miller. This was partly to address investor concerns and to navigate regulatory expectations (e.g. adopting modern governance standards for a large healthcare provider).

    • Community Engagement: Each Ryman village is encouraged to engage with its local community (e.g. hosting school visits, public ANZAC ceremonies, charity drives). This community presence gives Ryman a grassroots profile and often the ear of local politicians. Many regional mayors and MPs attend Ryman events, reflecting the company’s community influence.

  1. Recipient of Wage Subsidy Scheme: Yes – Ryman received NZ$14.2 million under the 2020 Covid-19 Wage Subsidy Scheme. The subsidy was claimed during the first lockdown when Ryman’s sales and construction were halted. However, after public scrutiny (given Ryman’s eventual $212m profit for that period) the company repaid the entire $14.2m in December 2020. Ryman’s chairman acknowledged the “improved outlook” enabled repayment and thanked the government for the support. The episode is often cited in debates on whether profitable firms should have taken the emergency subsidy. Ryman’s subsequent stance has been to refrain from seeking government bailout unless absolutely needed, to avoid reputational risk.

Sources

[1] Board changes at Ryman Healthcare (Media Release), Ryman Healthcare Investor News, https://www.rymanhealthcare.co.nz/investor-news/board-changes-at-ryman-healthcare

[2] Search result for Ryman Healthcare (Company No. 337739), NZ Companies Office, https://app.companiesoffice.govt.nz/companies/app/ui/pages/companies/search?q=9429039629517

[3] Offer of 6 Year Fixed Rate Bonds – Issuer Details (Ryman Healthcare Limited), Sorted Smart Investor (Te Tāhia), https://smartinvestor.sorted.org.nz/bonds/OFR13011/

[4] Ryman Healthcare appoints new Group CEO – Founded in 1984 (Press Release), NZX/ Ryman Healthcare, https://www.nzx.com/announcements/378654

[5] Ryman Healthcare (Australia) – Contact Us (Postal Address), Ryman Healthcare AU, https://www.rymanhealthcare.com.au/contact-us

[6] Ryman Healthcare (Australia) – Whitepages Listing (Melbourne office), Whitepages Australia, https://www.whitepages.com.au/ryman-healthcare-australia-pty-ltd-10339843

[7] Ryman Healthcare Ltd – Issuer profile (Industry: Healthcare & social assistance), Sorted Smart Investor (FMA), https://smartinvestor.sorted.org.nz/company/RYMAN

[8] Ryman Healthcare Limited – CompanyHub NZ Profile (snapshot), CompanyHub.nz, Data retrieved via search, https://www.companyhub.nz (company details page)

[9] Ryman Healthcare Limited – NZ Companies Register Summary, New Zealand Companies Office, https://app.companiesoffice.govt.nz/companies/337739

[10] Ryman Healthcare – Facebook Page, Facebook, https://www.facebook.com/RymanHealthcare

[11] Ryman Healthcare (@RymanHealthcare) – Twitter (X) Profile, Twitter (X), https://x.com/RymanHealthcare

[12] RymanHealthcareNZ – Instagram Profile, Instagram, https://www.instagram.com/rymanhealthcarenz/

[13] Healthcare Shelf Company No.23 Ltd – Business classification Q860140, BizDB (NZ), https://www.bizdb.co.nz/company/9429030106833/

[14] Healthcare Shelf Company No.23 Ltd – Ultimate Holding Company: Ryman Healthcare Ltd, BizDB (NZ), https://www.bizdb.co.nz/company/9429030106833/

[15] Major shareholders: Cooper 11.22%, FirstCape 6.66%, etc (Ryman Healthcare), MarketScreener, https://www.marketscreener.com/quote/stock/RYMAN-HEALTHCARE-6492072/company/

[16] Substantial Product Holder Notice – FirstCape Group (shareholding 6.587%), NZX/ BusinessDesk Announcements, https://businessdesk.co.nz/nzx-announcements/447767 (PDF via media.businessdesk.co.nz)

[17] Ryman Healthcare – LinkedIn Company Profile (overview), LinkedIn, https://www.linkedin.com/company/ryman-healthcare

[18] Ryman Healthcare Board succession – Dean Hamilton and James Miller join board, Ryman Healthcare Investor News, https://www.rymanhealthcare.co.nz/investor-news/ryman-announces-board-succession

[19] Ryman Healthcare appoints new Independent Director (Scott Pritchard), NZX Announcement, https://www.nzx.com/announcements/440490

[20] Ryman Healthcare appoints new Independent Director – About Ryman (49 villages, 14,600 residents, 7,700 staff), NZX Announcement, https://www.nzx.com/announcements/440490

[21] Western News: Clinical neuroscientist awarded 2024 Ryman Prize (PM Luxon presents), Schulich School of Medicine (Canada), https://www.schulich.uwo.ca/about/news/2024/2024_ryman_prize.html

[22] Ryman Healthcare Ltd – Company Profile (Key Executives: Naomi James, Rob Woodgate, Marsha Cadman), StockAnalysis.com, https://stockanalysis.com/stocks/nze/RYM/company/

[23] Ryman Healthcare CEO Richard Umbers resigns (Exec Chair Dean Hamilton assumes role), Radio New Zealand News, https://www.rnz.co.nz/news/business/514915/ryman-healthcare-ceo-richard-umbers-resigns

[24] Ryman to repay $14.2m for wage subsidy – David Kerr quote, Radio New Zealand News, https://www.rnz.co.nz/news/business/432976/ryman-to-repay-14-point-2m-for-wage-subsidy

[25] Ryman to repay $14.2m for wage subsidy – profit and subsidy details, Radio New Zealand News, https://www.rnz.co.nz/news/business/432976/ryman-to-repay-14-point-2m-for-wage-subsidy

[26] Ryman repays $10,300 after rest home complaint (Julia Wallace case), Consumer NZ, https://www.consumer.org.nz/articles/ryman-repays-10-300-after-rest-home-complaint

[27] Ryman repays $10,300 after rest home complaint – care failings described, Consumer NZ, https://www.consumer.org.nz/articles/ryman-repays-10-300-after-rest-home-complaint

[28] Retirement village residents call for overhaul of legislation (11,000 submissions), Radio New Zealand News, https://www.rnz.co.nz/news/national/478348/retirement-village-residents-call-for-overhaul-of-legislation

[29] Retirement village operators open to ombudsman idea amid review, Radio New Zealand News, https://www.rnz.co.nz/news/national/478348/retirement-village-residents-call-for-overhaul (coverage of Act review and operators’ stance)

[30] Embattled Ryman Healthcare appoints Property Council NZ Chair to board (Scott Pritchard background), The Weekly Source (AU), https://www.theweeklysource.com.au/embattled-ryman-healthcare-appoint-property-council-nz-chair-to-board/

[31] Ryman Healthcare appoints new Independent Director – Scott Pritchard joins (stepping down from Health NZ role), NZX Announcement, https://www.nzx.com/announcements/440490

[32] Ryman Healthcare founder John Ryder inducted into Business Hall of Fame (left company in 2002 after 18 years), Direct Capital / NBR, https://www.directcapital.co.nz/news/ryman-healthcare-founder-john-ryder-hall-of-fame (archived at nbr.co.nz)

[33] Ryman Healthcare Co-Founder Kevin Hickman passes (co-founded 1984 “good enough for Mum”), The Weekly Source (AU), https://www.theweeklysource.com.au/ryman-healthcare-co-founder-kevin-hickman-passes/

[34] Ryman Healthcare Co-Founder Kevin Hickman passes – Simon Challies anecdote, The Weekly Source (AU), https://www.theweeklysource.com.au/ryman-healthcare-co-founder-kevin-hickman-passes/

[35] Ryman announces Board succession (outgoing directors including Geoff Cumming), Ryman Healthcare Investor News, https://www.rymanhealthcare.co.nz/investor-news/ryman-announces-board-succession

[36] Ryman Healthcare founder and Direct Capital Chairman John Ryder inducted into Hall of Fame, NZX / NZX Company Research, https://www.nzx.com/ (as cited by directcapital.co.nz and NBR)

[37] Foreign buyer ban: retirement villages not exempt (Ryman & Metlifecare lobby select committee), Otago Daily Times, https://www.odt.co.nz/business/foreign-buyer-ban-retirement-villages-not-exempt

[38] Foreign buyer ban: retirement villages not exempt – CEOs “appeared before select committee”, Otago Daily Times, https://www.odt.co.nz/business/foreign-buyer-ban-retirement-villages-not-exempt

[39] Foreign buyer ban: retirement villages not exempt – select committee outcome, Otago Daily Times, https://www.odt.co.nz/business/foreign-buyer-ban-retirement-villages-not-exempt

[40] Foreign buyer ban: retirement villages not exempt – industry quote (“part of solution, not problem”), Otago Daily Times, https://www.odt.co.nz/business/foreign-buyer-ban-retirement-villages-not-exempt

[41] Grim warnings about aged care funding (select committee inquiry hears complaints), Interest.co.nz, https://www.interest.co.nz/public-policy/129697/grim-warnings-aged-care-funding

[42] Grim warnings about aged care funding – Ryman’s view: funding “insufficient to maintain… current facilities”, Interest.co.nz, https://www.interest.co.nz/public-policy/129697/grim-warnings-aged-care-funding

[43] Govt ‘forcing’ aged care providers to focus on high-income residents, says Ryman boss, BusinessDesk (Policy), https://businessdesk.co.nz/article/policy/govt-forcing-aged-care-providers-to-focus-on-high-income-residents-says-ryman-boss

[44] Govt ‘forcing’ aged care providers… – Executive Chair Dean Hamilton quote on policy settings, BusinessDesk, https://businessdesk.co.nz/article/policy/govt-forcing-aged-care-providers-to-focus-on-high-income-residents-says-ryman-boss

[45] Govt ‘forcing’ aged care providers… – context of aged care funding not keeping up with costs, BusinessDesk, https://businessdesk.co.nz/article/policy/govt-forcing-aged-care-providers-to-focus-on-high-income-residents-says-ryman-boss

[46] NZ Parliament Hansard – Health Select Committee Inquiry into Aged Care (2023) evidence, NZ Parliament (Hansard), https://www.parliament.nz/ (as reported by media)

[47] Health Select Committee Inquiry into Aged Care – NZ Aged Care Association CEO Tracey Martin testimony, Interest.co.nz, https://www.interest.co.nz/public-policy/129697/grim-warnings-aged-care-funding

[48] NZX Main Board Listing – Ryman Healthcare Limited (ticker RYM) market data, NZX.com, https://www.nzx.com/companies/RYM

[49] Ryman belatedly addresses debt with $902m capital raising, BusinessDesk, https://businessdesk.co.nz/article/finance/ryman-belatedly-addresses-debt-with-902m-capital-raising

[50] Ryman Healthcare 2024 Half-Year Presentation – Wage subsidy repaid noted (slide), Ryman Healthcare (Investor Centre), https://www.rymanhealthcare.co.nz/investor-centre (PDF report)

[51] Ryman Healthcare Code of Ethics – policy on political donations, Ryman Healthcare, https://www.rymanhealthcare.co.nz/ (Corporate Governance > Code of Ethics)

[52] Analysis of Donations in 2020 – No donations to political parties by Ryman (Annual Report excerpt), McGuinness Institute, https://www.mcguinnessinstitute.org/wp-content/uploads/2021/10/Analysis-of-Donations-in-2020.pdf

[53] Retirement Villages Act under review – delays leave elder rights in limbo, PlusLiving Magazine, https://plusliving.co.nz/retirement-villages-act-under-review/

[54] Retirement village residents fuming at delays to ‘urgent’ law changes, Radio New Zealand News, https://www.rnz.co.nz/news/national/478347/retirement-village-residents-fuming-at-delays-to-urgent-law-changes

[55] NZ Government Budget 2023 – Aged care funding increase (pay parity initiative), New Zealand Treasury, https://www.treasury.govt.nz/publications (Budget documents)

[56] Immigration Rebalance – Green List for Healthcare Workers (includes aged care nurses), NZ Immigration, https://www.immigration.govt.nz/about-us/reports-policies-reviews/immigration-rebalance

[57] Aged care sector gets pay parity funding boost, Beehive (NZ Govt Press Release), https://www.beehive.govt.nz/release/aged-care-sector-gets-pay-parity-funding-boost

[58] The Ryman Prize – $250k award for innovation in eldercare, Ryman Healthcare, https://www.rymanhealthcare.co.nz/ryman-prize

[59] Distinguished geriatrician wins 2021 Ryman Prize (Dr. Kenneth Rockwood), Dalhousie University News, https://www.dal.ca/news/2021/12/01/world-leading-geriatrician-and-anti-ageism-campaigner-wins-ryman-pr.html

[60] Stroke Foundation launches mobile blood pressure van (sponsored by Ryman), Stroke Foundation NZ, https://www.stroke.org.nz/big-blood-pressure-check (Facebook post referenced by Ryman)

[61] Ryman Healthcare – Community and Partnerships (charity fundraising total), Ryman Healthcare, https://www.rymanhealthcare.co.nz/community-and-partnerships

[62] Leukaemia & Blood Cancer NZ chosen as Ryman’s new charity partner, Leukaemia & Blood Cancer NZ, https://www.leukaemia.org.nz/ryman-healthcare-new-charity-partner-2021

[63] Fred Hollows Foundation chosen as Ryman’s new charity partner (2023), The Fred Hollows Foundation NZ, https://www.hollows.org.nz/news/article/the-fred-hollows-foundation-chosen-as-rymans-new-charity-partner

[64] Royal Flying Doctor Service chosen as Ryman’s charity in Australia (2024), Royal Flying Doctor Service VIC, https://www.flyingdoctor.org.au/vic/about/news/ryman-healthcare-charity-partner-2024/

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