Ryman buys former Napier hospital

Ryman Healthcare, one of the country's largest providers of care for the elderly, has bought the former Princess Alexandra Hospital in Napier and plans to turn it into a retirement village.

Ryman managing director Kevin Hickman said the village would provide accommodation for 150 elderly people, create 50 new jobs and would be the 14th village in the listed company's stable of retirement villages.

Ryman bought the 1.5ha site from Napier businessman Rodney Green.