Funding ‘crisis’ drives listed providers out of aged care

Funding ‘crisis’ drives listed providers out of aged care
“We're staring down the barrel of a bit of an aged care crisis,” Aged Care Association's Liz Robinson says. (Photo: Alex Cairns)
Gregor Thompson
The property at 10 Dawick Street in the small Horowhenua town of Foxton Beach was, until it shut down in late 2022, the location of the only aged care facility in the area.Of Riverside Lodge’s 19 residents, general manager Mark Buckley told BusinessDesk, 16 of them moved 6km inland to the company’s only remaining facility, Lonsdale Total Care.The other three moved further afield.Buckley blames several factors – nursing costs, inflation, and others – for the closure, but all lead back to a common denominator: a lack of fu...

More Economy

Debts of Peacocks daycare-related entities pile up
Economy

Debts of Peacocks daycare-related entities pile up

Companies owned by Vandana Bhatia and Sanjeev Gupta owe millions to the IRD.

Westpac NZ eyes monetary policy reform for change-laden RBNZ
Economy

Westpac NZ eyes monetary policy reform for change-laden RBNZ

Westpac NZ puts monetary policy voting in the spotlight.

Staff reporters 05 Sep 2025
Wētā FX narrows loss and rebuilds R&D
Economy

Wētā FX narrows loss and rebuilds R&D

New Zealand contracts rose 28% to $411m.

Gregor Thompson 04 Sep 2025