Ryman Healthcare Limited is a New Zealand retirement village and rest home operator. It is listed on the New Zealand Stock Exchange and is one of the largest companies listed on the NZX 50 Index. Ryman Healthcare has 38 operational villages across New Zealand and seven in Melbourne, and is developing another six villages in Victoria, Australia. Its name is a portmanteau of its two founders, John Ryder and Kevin Hickman, who founded the company in 1984. As at May 2022, Ryman Healthcare has a market capitalisation of over $4.4 Billion NZD. Ryman's business model is a mixture of property development and healthcare services. It operates on a "deferred management fees" model where the village resident pays for a lifetime occupancy use of their apartment or unit, and upon moving out, the resident or their estate receives a lesser sum back for their unit, capped at 20% deducted if over a five-year period. Ryman Healthcare villages offer a blend of different retirement living options at their villages, which are usually large enough to support a mini-hospital for residents and a secure dementia wing. Wikipedia