RYM - Ryman Healthcare

[Beagle]

Yes I think RYM should have updated the market.I was going to reply to buns that I thought things would be Ok.They I thought only take a minute to ring and post an informative post.What is interesting is that RYM said 1st, residents safe.I suppose that sums it up.
SP. Maybe people thought there was damage? Must admit I thought it was because you had finished filling up the truck. !!!! lol.

LOL, No mate i'm keeping plenty of cash in reserve watching this European debt crisis unfold. Plenty of powder to deploy in due course.

[mamos]

New Zealand's retirement industry has been urged to consider a new way of caring for the aged involving ''apartments for life'' where cure and care is provided when needed rather than them having to progressively shift home as they grow older.

The care philosophy comes from the Humanitas Foundation and was pioneered in the Netherlands by Dr Hans Becker, who shared his experience with more than 60 retirement village operators at yesterday's Ageing Asia conference in Auckland.
Under the Humanitas approach, ''cure and care'' rather than people are portable. The philosophy allows elderly people to have an apartment that may be government-subsidised, rented or bought in a ''somewhat self-contained'' retirement village. The villages have open to the public add-ons to the traditional care services, such as a restaurant, cinema and open spaces, and where residents comprise a mix of those needing medical care and those that don't.

New Zealand Retirement Villages Association CEO John Collyns said this contrasts to New Zealand's traditional retirement concept of ''multiple physical moves', typically from a retirement village to a rest home and then on to a dementia and/or hospital unit as a person ages.
''It's telling people that they can live and grow old in one place and should they need cure and care in their elder years, those will come to them,'' Collyns said.
Oceania Group CEO Geoff Hipkins said the New Zealand industry had already embraced some aspects of the philosophy but still grappled with more of an ''audit-type culture''.
Oceania's Green Gable facility in Nelson began piloting aspects of the Humanitas programme early last year and will also use the concept in its new Mt Eden facility. It plans to build 30 independent living units and 70 assisted living suites at the new Auckland facility in August this year.
''We'd introduce a restaurant-type concept which is literally open not only to our residents and their families but to the general public. It will involve our residents in say, food preparation and provisioning. We see that as a huge gap in care as far as the elderly is concerned,'' Hipkins said.

While the Humanitas business model may daunt some, he said, 100 per cent occupancy, increased use of volunteers and brand positioning ''will contribute to a positive bottom line''.
Geoff Tylee-Porter, CEO at The McLean Institute, said its Holly Lea facility in Christchurch is running ''like Humanitas in terms of the thinking'' except for the business model which is that of a charitable institution.

But the institute also had an ''ageing in one place'' concept operating at its boutique retirement village, he said.

[percy]

mamos.
I am not sure how different this approach is to the RYM model.RYM do encourage people to become involved in RYM village before they move in,so they already have friends their,and know their way around the village.You start off in a independent unit,and move into the home ,or were ever you needs require,still in the same village. So I do not see the upheaval is great.The way I see it is RYM village is your home for life.You will never have to move out.

[Beagle]

Sounds highly theoretical, of dubious benifet to residents and I believe that business model would be very inefficient. Any efficiencies bought about by volunteer input are highly theoretical, at best.
I'm very happy with Ryman's business model and the care they provide to their residents which Percy has commented are residents for life and can choose their level of care and assistance all within the one resort style village as their needs change. What's not to like ?

On the other hand if you look at quite a number of Metlifecare retirement villages, well, all they offer is independant living and some assisted living facilities from memory, but if you need rest home, hospital or Dementia care you have to move out and suffer your 30% loss retention on the value of the unit (when they eventually get around to selling it AND while they continue to clip the ticket for your weekly fees even when you're not there).

Perhaps the presenter at that conference hadn't been to see one of Ryman's world class retirement facilities ?

I'm very happy with Ryman's operations both from a Parent care and investment perspective. Can't see the point in changing a winning formula.

[mamos]

I agree. This is what RYM are already offering, whereas some of the other operators are not.

[winner69]

Shareholder Alex Gray wrote a letter to the editor of the Dom Post - emblazoned across the page "Ryman shareholder angry and asheamed at rest home death"

Basically angry and ashamed that the company took no responsibility for its taking 12 days to find a body. He did say Ryman states on its website 'the company is 'passionate about delivering great service' but in this case he thinks they failed miserably ... and that hiding behind the excuse the poor bugger wanted to be independent is unacceptable

Anyway one incensed shareholders view .... Challies got his letter published as well giving the corporate view to balance it all up

Wonder if Mr Gray has sold his shares?

[percy]

Shareholder Alex Gray wrote a letter to the editor of the Dom Post - emblazoned across the page "Ryman shareholder angry and asheamed at rest home death"

Basically angry and ashamed that the company took no responsibility for its taking 12 days to find a body. He did say Ryman states on its website 'the company is 'passionate about delivering great service' but in this case he thinks they failed miserably ... and that hiding behind the excuse the poor bugger wanted to be independent is unacceptable

Anyway one incensed shareholders view .... Challies got his letter published as well giving the corporate view to balance it all up

Wonder if Mr Gray has sold his shares?

I can not see where Alex Gray is coming from.The death occured in a independent unit,which is the same as a ownership flat.As I said in post 551 on this thread I would have thought his neighbours would have been more alert.Independent units are independent. From my Chambers School Dictionary;Independent; not relying on someone else for support,guidance etc,free to think or act for yourself.
May pay Mr.Gray to seek independent advice before deciding to hang on to, or sell his shares.

[Under Surveillance]

Wonder if Mr Gray has sold his shares?

Nah, ... he's bewildered, not quite on top of things, fodder for an offer from Bernard Whimp.

[Beagle]

One of the key reasons my parents moved into a retirement village was so they could enjoy a caring community of like minded people in similar circumstances to themselves. If the Gentleman in question especially chose an independant apartment / unit, chose not to receive any "just checking on your welfare" calls from Ryman made no effort to get to know his neighbours, then one would assume he had some other support network, kids, friends ? Where were they ?

Mr Gray is a bewildered shareholder pointing the finger at the wrong party. Ryman is not even partially culpable. The gentleman only has himself and his chosen support network and perhaps his neighbours to some extent to blame.
Classic sad case of an old eccentric musician taking too much solace in his music and not making enough effort with people ?

[buns]

5100 poor buggers have lost their homes.

These guys are now cashed up and need a new home.. Ha, Or will we see some ‘Darryl Kerrigan’s’ (from one of the all time greats ‘The Castle’) have a go? http://daledugahole.com/

Surely some of this must be going Ryman's way? Is there much free capacity in Ryman’s South Island units? Will RYM push some sort of advertisement programme towards these people, and look into creating a new programme which helps these people set up a new life.

Then there is the other side of it. Will we see RYM buy land aggressively in Christchurch following this clean up/clear out? This could really push management’s measure, with the temptation to start borrowing.

Interesting times - overall I think this is net upside to RYM holders, but hard to get excited about when you think about where it is coming from.