Ryman Healthcare to repay wage subsidy

Ryman was founded in 1984 and has become one of New Zealand’s largest listed companies. Photo supplied

Retirement village and rest home operator Ryman Healthcare has confirmed it will repay the $14.2 million wage subsidy it received to help protect jobs during the Covid-19 Level 4 lockdown.

“We’d like to thank the Government for its initiative in introducing the subsidy which provided help at a time of great uncertainty for us and for thousands of other businesses,” Ryman Healthcare chairman Dr David Kerr said.

“Since January we have spent more than $50 million on our Covid-19 response, and I’m pleased to say we have not had a single case of Covid-19 among our more than 18,000 residents and staff. The financial certainty the subsidy gave us was a factor in our success during a difficult period.

“During the Level 4 lockdown we were unable to sell, market, refurbish, build or admit new residents, which severely impacted our trading and so we met the criteria to qualify for the subsidy.

“We have regularly reviewed our position in relation to retaining the wage subsidy. The improved outlook in New Zealand means we are now committed to repaying the subsidy. Once again, we’d like to thank the New Zealand Government for its help.”

Ryman was founded in 1984 and has become one of New Zealand’s largest listed companies.

The company owns 39 retirement villages in New Zealand and Australia which are home to more than 12,000 residents and the company employs 6100 staff.