Ryman to cut care beds in new villages by up to two-thirds

Too many high-rise developments led to a blow-out in Ryman’s debt. (Image: Depositphotos)

Mon, 17 Oct 2022

Ryman Healthcare is reducing the number of care beds in its new villages by as much as two-thirds because of government underfunding for aged care.The company told investors attending its investor day that newer villages will have between 40 and 60 care beds, compared to typically 120 or more in the past.“Historically, we’ve built larger care centres but with current government settings, the economics of this have changed,” Ryman said when BusinessDesk asked the reasons for such a big change.“This is not out of step with...

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