Summerset Holdings Limited () is a New Zealand retirement village and aged care service provider. They are listed on the

NZX New Zealand's Exchange (), known commonly as the NZX, is the national stock exchange for New Zealand and a publicly owned company. NZX is the parent company of Smartshares, and Wealth Technologies. On 30 August 2020, the NZX had a total of ...

and are part of the

NZX 50 index The S&P/NZX 50 Index is the main stock market index in New Zealand. It comprises the 50 biggest stocks by free-float market capitalisation trading on the New Zealand Stock Market (NZSX). The calculation of the free-float capitalisation excludes ...

, with a market capitalisation of nearly $2.3 billion NZD.

History

Summerset Group Holdings Ltd was founded in 1994 by John O'Sullivan, a Wellington-based property developer 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. 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 Auckland (pronounced ) ( mi, Tāmaki Makaurau) is a large metropolitan city in the North Island of New Zealand. The List of New Zealand urban areas by population, most populous urban area in the country and the List of cities in Oceania by po ...

. At the time of its listing it had 13 retirement villages. The current Chief Executive of Summerset Group Holdings Ltd is Julian Cook. Competition for Summerset in the New Zealand aged care sector includes Ryman Healthcare,

Metlifecare Metlifecare is one of New Zealand's largest retirement village providers. They currently own and operate 32 retirement villages throughout the North Island of New Zealand. They have been listed on the NZX since 1994, and the Australian ASX mai ...

, BUPA, Arvida and Oceania.

References

External links

Summerset Holdings Website
Housing for the elderly Companies based in Wellington Companies listed on the New Zealand Exchange Service companies of New Zealand {{NewZealand-company-stub