RYM - Ryman Healthcare

[Winston001]

...the Kristine Bartlett case only highlights what happens when a stingy company like Tera Nova only pays the minimum wage to someone who has worked for them for 20 years and then the question has to be asked why she has continued to work for them when she could get a job with any other company in the area

That's what my dear old dad used to say about trade union complaints. If you don't like the job go elsewhere.

Unfortunately he couldn't extrapolate that to children going up chimneys and down into mines. He always thought employers were decent people - like himself. Sadly life isn't like that.

I'm a fan of Ryman and have no immediate reason to feel otherwise.

However on a wider level I am troubled that rest-home staff are paid such a low wage. Have any of you actually worked with elderly people? They are heavy and physically difficult to move out of bed and into chairs. They are often incontinent. Deaf. Frustrated. Obstinate. Afraid and bewildered.

Its distressing to work with some elderly day after day because these people were once dignified mums and dads who are now struggling with the dying of the light.

The staff are usually compassionate and cannot help but be affected by their work. Its quasi-nursing and deserves a higher level of wage.

[couta1]

Great article in the Herald today on Simon Challies its easy to see why they are best of breed. I also noticed the line from Forsyth Barr about Rymans Hospital and Dementia care being of particular significance to their growth due to demand in those areas and they are well positioned due to their fully integrated villages.

[Tevita]

That's what my dear old dad used to say about trade union complaints. If you don't like the job go elsewhere.

Unfortunately he couldn't extrapolate that to children going up chimneys and down into mines. He always thought employers were decent people - like himself. Sadly life isn't like that.

I'm a fan of Ryman and have no immediate reason to feel otherwise.

However on a wider level I am troubled that rest-home staff are paid such a low wage. Have any of you actually worked with elderly people? They are heavy and physically difficult to move out of bed and into chairs. They are often incontinent. Deaf. Frustrated. Obstinate. Afraid and bewildered.

Its distressing to work with some elderly day after day because these people were once dignified mums and dads who are now struggling with the dying of the light.

The staff are usually compassionate and cannot help but be affected by their work. Its quasi-nursing and deserves a higher level of wage.

Genuine sentiments nicely expressed. The Dylan Thomas allusion resonated to many about the human condition - handling the inevitability of advancing age.

[Beagle]

Great article in the Herald today on Simon Challies its easy to see why they are best of breed. I also noticed the line from Forsyth Barr about Rymans Hospital and Dementia care being of particular significance to their growth due to demand in those areas and they are well positioned due to their fully integrated villages.

Yes indeed, agree 110%. When you go to the pet shop to get your new puppy do you buy best of breed or some shabby mutt. I'm waiting for best of breed to go on special and I'm very patient

[percy]

Yes indeed, agree 110%. When you go to the pet shop to get your new puppy do you buy best of breed or some shabby mutt. I'm waiting for best of breed to go on special and I'm very patient

Looks as though it was only a one day special on October 17th at $7.22.
You missed it,and it does not look as though it will not come on special again in the foreseeable future .!! lol.

[Beagle]

Either of you fellas care to guess why SUM seems to be continually shunning your advice on this? Are you suggesting that they got the numbers wrong when the crunched the business case? Really??

Hmmm, Big Rodge casts a glance at well used soap box and is tempted to get on it again but is 110% sure all the regulars know what he thinks of SUM management and directors already.

Looks as though it was only a one day special on October 17th at $7.22.
You missed it,and it does not look as though it will not come on special again in the foreseeable future .!! lol.

The older I get the more I realise you need to think in terms of years not months in terms of your investment time frame. There will come a time, (it might be quite a long time away) when the market wakes up to PE's in this sector being too hot for the gradually cooling growth rate and even the show dog's fur will look less glossy. I've done well exiting this sector completely this year. RYM's done nothing.
Just did an analysis on the super charts menu on ANZ securities for interest.
12 months to 12/12/14
RYM up 2%
SUM down 12%
MET up 10%
NZX 50 up 17% Taking into account RYM has quite a big weighting in the NZX 50 the relative under-performance of RYM speaks volumes.
Selling most of my SUM holding at $3.58 and $3.52 !! I even beat Norah
I think this old dog's move to exit the sector entirely this year entitles him to a good woof woof !!!!

My thinking for 2015. This sector will continue to materially underperform the NZX 50 as valuations overall remain far too stretched.

[Beagle]

I had to edit my post again, bloody soap box use is addictive

[winner69]

Great buy by Infratil and Super Fund of RetireAustralia

Interesting slide from their presentation

Price paid ridiculously cheap relative to Ryman and Summerset .....or it shows that sensible people pay sensible prices and Ryman is ridiculously overpriced.

RetireAustralia hasn't got much in the way of care units. Add those over the next few years they will make heaps when they bring it back to market in a few years times .... at much higher multiples.

Well done guys

[percy]

Great buy by Infratil and Super Fund of RetireAustralia

Interesting slide from their presentation

Price paid ridiculously cheap relative to Ryman and Summerset .....or it shows that sensible people pay sensible prices and Ryman is ridiculously overpriced.

RetireAustralia hasn't got much in the way of care units. Add those over the next few years they will make heaps when they bring it back to market in a few years times .... at much higher multiples.

Well done guys

Certainly looks as though they have brought well [again].!
Great to see they intend to follow RYM and SUM model of "total care" rather than the Australian "lifestyle" model.
The Australian model also varies in the fact that the capital gain on units, is shared with the residents,while in NZ it is the operator that gains.
Whether they follow the RYM and SUM model of design,build etc done in house I am not sure?.
Again we are seeing RYM and SUM setting the standard.

[Beagle]

Great buy by Infratil and Super Fund of RetireAustralia

Interesting slide from their presentation

Price paid ridiculously cheap relative to Ryman and Summerset .....or it shows that sensible people pay sensible prices and Ryman is ridiculously overpriced.

RetireAustralia hasn't got much in the way of care units. Add those over the next few years they will make heaps when they bring it back to market in a few years times .... at much higher multiples.

Well done guys

Yep, buying on a PE of under 19 based on underlying earnings is where the sensible value is. Well done to infratil.