 | |
| Company type | Public |
|---|---|
| NZX: SUM | |
| Industry | Aged care and retirement villages |
| Founded | 1994 |
| Founder | John O’Sullivan |
| Headquarters | Wellington , |
Areas served | New Zealand |
Key people | CEO - Scott Scoullar, Chairman - Mark Verbiest |
Number of employees | 1200+ (2018) |
| Website | www |
Summerset Holdings Limited (NZX : SUM) is a New Zealand retirement village and aged care service provider. They are listed on the NZX and are part of the NZX 50 index, with a market capitalisation of nearly $2.3 billion NZD. [1]
Summerset Group Holdings Ltd was founded in 1994 by John O'Sullivan, a Wellington-based property developer [2] initially opening a small hospital in Levin that year and a similar one in Waikanae in 1995. In 1997 the first retirement village with a hospital and rest home was opened in Wanganui. This was followed by a rapid period of growth with approx. one new village opened each year until 2001 to reach 9 sites, mainly within the Lower North Island. The head office was originally located in Paraparaumu.
At the end of 2005 O'Sullivan and the small group of other shareholders sold the business to AMP Capital Investors for $125m. In 2007 AMP sold the two original hospital sites in Levin and Waikanae (branded Millvale House) so the company could concentrate on its core business of retirement village offerings.
It has 23 retirement villages with 4700 residents, with a further six villages for construction. [3] They offer a range of care from independent living to dementia, hospital and rest home nursing care.
Summerset listed on the NZX in November 2011, raising capital to increase its growth plans to cater for the increasing retirement population in Auckland. [4] At the time of its listing it had 13 retirement villages. The current Chief Executive of Summerset Group Holdings Ltd is Julian Cook. [5]
Competition for Summerset in the New Zealand aged care sector includes Ryman Healthcare, Metlifecare, BUPA, Arvida and Oceania.
Waikanae is a town on the Kāpiti Coast, 60 kilometres north of the Wellington CBD. The name is a Māori word meaning "waters" (wai) "of the grey mullet".
AMP is a financial services company in Australia and New Zealand providing superannuation and investment products, financial advice, and banking products including home loans and savings accounts. Its headquarters is in Sydney, Australia.
Wigram is a suburb in the southwest of Christchurch, New Zealand. The suburb lies close to the industrial estates of Sockburn and the satellite retail and residential zone of Hornby, and has undergone significant growth in recent years due to housing developments. It is seven kilometres to the west of the city centre.
Infratil Limited is a New Zealand-based infrastructure investment company. It owns renewable energy, digital infrastructure, airports, and healthcare assets with operations in New Zealand, Australia, Asia, the US and Europe. Infratil was founded by the late Lloyd Morrison, a Wellington-based merchant banker. Morrison's company, H. R. L. Morrison & Co, is responsible for Infratil's management and administration.
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Ryman Healthcare Limited is a New Zealand retirement village and rest home operator. It is listed on the New Zealand Stock Exchange and is one of the largest companies listed on the NZX 50 Index.
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Metlifecare is one of New Zealand's largest retirement village providers. They currently own and operate 43 retirement villages throughout the North Island of New Zealand.
Norah Kathleen Barlow is a New Zealand business executive. She was formerly the managing director and chief executive of aged-care business Summerset Group.
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EBOS Group Limited is the largest marketer, wholesaler, and distributor of medical, and pharmaceutical products in Australasia. It is also a major provider of animal care products.
Charles Fleming Retirement Village is a retirement village in Waikanae, New Zealand. Opened in 2013 and named after Sir Charles Fleming, it houses 140 beds with a resident capacity of over 400. It was built by Ryman Healthcare with a construction cost of $100 million. It includes a dementia facility, independent units and townhouses. The main block of apartments is three storeys high.
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