Healthcare New Zealand has sold 40% of its business to Australian company Home Care BidCo Pty in a move that could shake up one of New Zealand’s leading service providers.
Healthcare Holdings Limited, or HHL, runs and owns several established disability support services throughout New Zealand. The company has a net worth of over $100 million but looks set to sell nearly half of its assets. Currently, HHL provides community health, disability support, and mental health services and has gained several Ministry of Health contracts in the past. HHL also has contracts under the Accident Compensation Corp (ACC).
HHL currently owns and runs the following services:
- Healthcare NZ Community Health: In home and community based support.
- NZCare Disability: Residential support, vocational services, and respite care.
- Healthcare Rehabilitation: Nursing and rehabilitation.
- Mental Health NZ: Recovery and addiction services to people of all ages.
Just what the new deal with Home Care BidCo Pty will represent for HHL’s current mode of operation is yet to be seen.