International aged healthcare company Bupa is expanding its New Zealand portfolio of rest-homes with three Southern acquisitions - in Dunedin, Gore and Riverton.
Bupa managing director Grainne Moss said the three acquisitions, from the Oceania Group, of stand-alone care homes totalling 182 beds gave Bupa the largest number of beds and geographical coverage.
''The locations fit well within Bupa's regional operations structure and will enable us to care for more older New Zealanders,'' Ms Moss said in a statement.
Competition, and the growing need for more facilities to cater for the aged-care sector, meant there had been a boom, prompting listed companies Ryman Healthcare, Metlifecare and Summerset to embark on expanding their operations.
The NZ Super Fund joined Infratil in spending
$270 million to buy a 37.7% stake in Metlifecare last month, while Ryman has been one of the New Zealand Stock Exchange's outstanding performers for the past year.
In a statement, Bupa said it had no shareholders but reinvested money to provide better healthcare for customers and supported health charities.
In June, Bupa purchased Oceania facilities in Taranaki, Dannevirke and Pahiatua, including two integrated care home and village facilities and one stand-alone care home.
A fourth Oceania care home, Cargill Rest Home and Village in Invercargill, is under offer and awaiting approval from the Overseas Investment Office.
