Radius Care announces acquisition of Matamata Country Lodge

RADIUS RESIDENTIAL CARE LIMITED
Level 4, 56 Parnell Road, Parnell, Auckland, New Zealand
Phone 09 304 1670 www.radiuscare.co.nz
Caring is our calling



NZX RELEASE
31 August 2022
Radius Care Announces Acquisition of Matamata Country Lodge
Radius Care (NZX: RAD) today announced that it has entered into an agreement
to acquire the assets and business of Matamata Country Lodge along with three
neighbouring properties for NZ$17.1 million. The acquisition is planned to be
funded by a $10 million payment from debt facilities, $2.1 million of vendor
finance and the issue of $5 million of RAD shares issued at the market price on
completion.
The acquisition of Matamata Country Lodge represents further execution of the
company’s strategy. It provides a full continuum of care from retirement village
units, to high acuity care beds and a development pipeline. Currently, the
retirement village has 40 units and the care home has 85 beds. Radius Care plans
to develop additional units on the site - a concept design for 18 new villas has been
completed.
Executive Chair Brien Cree and CEO Andrew Peskett both agree: “From the
moment you arrive at Matamata Country Lodge, you can see that it’s a special,
well designed and beautifully manicured property. At the same time, it is an
excellent business, with very high occupancy and the maximum period, four-year
certification from the Ministry of Health. There is also a high net latent demand in
the area due to limited major competitors and a waiting list for the retirement
village units. The team at Radius Care are looking forward to welcoming the
Matamata Country Lodge residents and staff into the Radius family as our 24
th

care home and fourth retirement village.”
“We’re looking forward to positively impacting the lives all residents and staff at
Matamata Country Lodge. Radius Care employs over 1,600 people nationwide, we
offer staff enrichment and training opportunities, as well as access to resources
and expertise from the support office and from colleagues around the country,”
adds Peskett.
Since June 2021, Radius Care has acquired 10 properties including eight properties
that were previous leased and the new properties of Clare House in Invercargill
and now Matamata Country Lodge. The acquisition of Matamata Country Lodge is
conditional on confirmation of debt finance and receiving relevant regulatory
approvals and is expected to settle in September 2022.
ENDS

RADIUS RESIDENTIAL CARE LIMITED
Level 4, 56 Parnell Road, Parnell, Auckland, New Zealand
Phone 09 304 1670 www.radiuscare.co.nz
Caring is our calling
CONTACT DETAILS
For further information, please contact:
Anna Ellis
Company Secretary
Phone: +64 204 020 3980
Email: Anna.Ellis@radiuscare.co.nz
About Radius Care
Radius Residential Care Ltd was founded in 2003 and operates in the New Zealand
aged care and retirement village sectors. It is a nationwide provider offering the
full range of accommodation and care options giving residents the ability to "age
in place". Today, Radius Care operates 23 aged care facilities, of which it owns 12
and leases 11. Three owned facilities also include retirement villages and Radius
Care’s online shop sells specialist assisted-living products. The company employs
over 1,600 people, including highly qualified healthcare staff who are committed
to providing the very best in nursing care. Radius Care listed on NZX in December
2020. For more information visit radiuscare.co.nz or check out our Facebook page
@RadiusCareNZ.