Changing of the guard at Metlifecare with ex-National Minister of Health on the board
Tuesday, 3 November 2020
The guard is changing at one of New Zealand’s largest retirement villages Metlifecare with a new set of directors taking over under a new overseas owner, including ex-Cabinet minister Dr Jonathan Coleman.
Swedish investor EQT takes over the ownership of the retirement village operator today, promising to grow the company which owns and runs 25 retirement villages mostly in the upper North Island, around Auckland, with about 5600 residents.
The new board of six directors has diverse experience in health care, care of the aged, property, telecommunications, construction and the grocery sector.
Four of the six are New Zealanders and are ex-Health Minister and GP Jonathan Coleman, ex-Foodstuffs North Island boss Murray Jordan, former Fletcher Residential head Ken Lotu-liga who was involved with the purchase of the controversial south Auckland Ihumatao site, and Maggie Owens, a former executive at Bupa, one of the country’s leading aged care providers.
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*High Court gives green light to Swedish investor to buy Metlifecare for $1.3 billion
*National Portrait: Jonathan Coleman – Doctor, Health minister, quiet achiever
The new chairman of Metlifecare is Australian Paul McClintock A0 (Officer of the Order of Australia), who has extensive health and aged care experience, and formerly acted as Secretary to Cabinet and Head of the Cabinet Policy Unit under Australian Prime Minister, John Howard.
McClintock is the Chair of St Vincent’s Health, Australia’s largest not-for-profit hospital and aged care operator, I-MED Radiology, and Laser Clinics Australia. He has chaired several healthcare-related companies including Medibank, Affinity Health and Central Sydney Area Health.
”The new directors look forward to building on Metlifecare’s reputation as a leading provider of care to New Zealanders and to support the Metlifecare team in growing the business,” McClintock said.
“The new Board members bring a wealth of experience that will be relevant to the long-term value creation of the business and focus on ensuring Metlifecare continues to be a retirement village and aged care provider of choice,” he said.
Also, on the board will be Ken Wong, a managing director at EQT and head of EQT Australia & New Zealand.
“Consistent with EQT's global approach to governance, Metlifecare's board will bring significant relevant industry expertise to support the business and management through this next phase of the company’s growth,” Wong said.
EQT is a global investment organisation which set up an office in Sydney in early 2020 to focus on investment in Australia and New Zealand. Its EQT Infrastructure IV fund has bought 100 per cent of Metlifecare.
Coleman was an MP for 12 years including nine years as a cabinet member in the National Government led by John Key and then Bill English. His ministerial portfolios include being Minister of Health from 2014-2017. Other portfolios were immigration, broadcasting, state services, defence, associate finance and sport.
He is also a director of Acurity Health Group and before that was its chief executive for two years after resigning from Parliament in 2018. Acurity operates three private hospitals, Wakefield and Bowen hospitals in Wellington and Royston Hospital in Hastings, along with other health services.
Ken Lotu-Iiga is a programme director at Kāinga Ora, the government’s housing agency. He has significant experience in building, construction and development including 25 years at Fletcher Building culminating as general manage of Fletcher Residential, New Zealand’s largest developer of residential housing.
Murray Jordan is a director of several companies including Chorus, Metcash, SkyCity, Southern Cross Medical Care Society and Southern Cross Hospitals.
He has been managing director of Foodstuffs North Island, and he was also formerly general manager of AMP’s unlisted property portfolio in New Zealand.
Maggie Owens was most recently an operational director for aged care provider Bupa New Zealand, one of the largest operators of retirement living and aged care services here. She has worked at Bupa in a variety of roles for 11 years including director of independent living and acting chief operating officer for 14 months. She is a past president of the Retirement Villages Association and has been working in the retirement living and aged care sector for over 30 years. She started her career as a registered nurse.