ElderCare expands to meet growing demand

The company will buy two more hospital-care facilities, with settlement on March 31.

The purchase of Te Mana, on Auckland's North Shore and Otumarama in Nelson, will take the total number of beds managed by the company to 904.

ElderCare chief executive Alan Clarke said the Te Mana acquisition, which includes 42 hospital beds and six nursing home beds, will mean the company can provide integrated services based on its continuum- of-care model.

"As we see a growing number of residents transition into hospital-type care, we believe it is important that we provide a seamless approach to meeting their changing medical and social requirements," Mr Clarke said.

He added the purchase of Te Mana allowed the company to offer a wider range of health services on the North Shore. The move into Nelson with its large retirement population was a natural progression, he said.

ElderCare's next move will be to develop the infrastructure of both operations.

Projections of New Zealand's increasing elderly population show the future is bright for ElderCare and its competitors, Metlifecare, Calan Healthcare and Ryman Healthcare.

Bond Offer: Infratil Ltd, 7.2 year & 10.2 year unsecured unsubordinated bond

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