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History of Abano

1999:

  • Company established in its current form as ElderCare New Zealand Limited. Initially, the Group focused on the development of retirement village properties and aged care services.

2000:

  • New positioning strategy introduced. Company begins move away from property development and towards the grouping and management of successful medical and healthcare businesses.
  • Expansion into Rehabilitation sector through acquisition of Ranworth Healthcare. Ranworth Healthcare is the largest national provider of brain injury rehabilitation services in New Zealand.

2002:

  • Acquired the Diagnostic businesses of Medical Laboratory Wellington and Nelson Diagnostic Laboratory in January 2002.
  • Entered the Dental market in October 2002, with the acquisition of Geddes Dental Group, New Zealand’s most high profile dental brand, which was relaunched in 2005 as Lumino.


2003:

  • The name of the Group was changed on 29 August 2003, to Abano Healthcare Group Limited, to reflect its move away from purely aged care and towards a multi-discipline approach to the healthcare and medical services industry.
  • Continued growth of Rehabilitation sector with acquisition of Burtons Healthcare and Health Partners.


2005:

  • Expansion of Diagnostics sector with acquisition of 40% of Ascot Radiology, providing a new revenue stream for the Group.
  • Sale of aged care business, ElderCare, in July 2005. 
  • Acquired a 70 percent shareholding in Orthotics Centre (NZ) Limited in October 2005, providing a second market opportunity in the rehabilitation sector. The remaining 30 percent shareholding was acquired in October 2006.
  • Relaunched Geddes Dental Group as Lumino Care Dental.
  • In October 2005, Abano entered the audiology sector, with the acquisition of 70 percent of Bay Audiology, the country's largest and only national service provider, which in turn owns 40 percent of Dilworth Audiology.

2006:

  • Created a  joint venture - Aotea Pathology - between Medical Laboratory Wellington and Sonic Healthcare's Valley Diagnostics.
  • In June 2006, Aotea Pathology won the contract for all community pathology in the Wellington, Hutt Valley and Kapiti regions.
  • In October 2006, Nelson Diagnostic was sold to Medlab South.
  • Acquired the remaining 30 percent of Orthotics Centre (NZ), taking ownership to 100 percent.

2007:

  • A further 40 percent of Ascot Radiology was acquired, as well as eighty percent of Greenlane Imaging, expanding the Group's radiology offer.  
  • Entered the Australian audiology market through a Bay Audiology subsidiary, Bay  Audio.
  • Rebranded Lumino Care Dental as Lumino The Dentists.

2008:

  • Introduced new radiologist equity partners into the radiology business and reduced Abano's shareholding to 73 percent.
  • In June 2008, entered the Australian dental market through a partnership with Dental Partners, in which Abano holds 70 percent.
  • Grew Abano's radiology offer, with the acquisition of Insight Radiology, a specialist obstetric ultrasound practice.
  • Entered the Asian audiology market, thorugh a Bay Audiology subsidiary.

2009:

  • Sale of Abano's interest in Bay Audiology New Zealand to National Hearing Care and acquired share in new merged Australasian audiology business.  Future strategic focus on growth of audiology businesses in Australia and Asia.

Abano Healthcare Group Limited is New Zealand’s first major publicly listed healthcare provider. The company’s future growth strategy will be driven through both organic means and acquisition. The Group employs more than 1,200 staff in facilities across New Zealand, Australia and Asia, offering quality care and diagnosis to thousands of patients every day. Abano Healthcare Group Limited is the holding company and is listed on the NZX under the code ABA.