Just announced, ex-Australian Unity CEO Independent & Assisted Living, Kevin McCoy, has been appointed Interim CEO of Levande, the rebranded Stockland retirement village portfolio.

He takes over from Suzanne Dvorak, who has left the company after seven months as CEO. She held the leadership position for seven months before that, titled as Industrial Advisor for EQT, the Swedish investment fund that acquired the portfolio last year.

Suzanne was hired from Bupa where she was Managing Director, Bupa Villages & Aged Care for three years, appointed just as Covid and the sanctions storm hit Bupa, which she had to manage.

An Australian Unity alumni, she was Executive General Manager Retirement Communities for two years, working alongside Kevin.

Levande launched under this brand in August last year, with 58 villages, 9,000 residents and over 300 staff.

EQT also owns Metlifecare in New Zealand, that is firmly based on the continuum of care model, including residential care. Suzanne travelled to New Zealand to study Metlifecare closely.

However when Levande launched here the ‘care’ offering was missing. Its positioning was and is “a new definition of lifestyle living”.

“The concept of ‘retirement living’ is changing, as many residents aren’t retired – so we think of it as ‘lifestyle living’. At Levande, residents can choose a home and know that it will support their lifestyle and be their base in the years to come as they pursue their interests,” Suzanne said at the time.

We understand that Suzanne has however been promoting a strategy of Levande providing care and operating that care in its own right, but this was not where EQT wanted to go.

Interestingly, Kevin has been a 10-year hands on leader of the Australian Unity strategy to build co-located retirement villages with adjacent aged care, supplemented by their large home care service.

Last year he told us for an article in SATURDAY Magazine that a residential care operator requires a minimum of 1,500 beds to have a sustainable business. To achieve this, Levande would require an investment of $450M, not to mention a workforce of 2,000 staff.

Instead, we understand Levande intends to partner with established RAC operators. They already have a number of Opal RACs adjacent to their villages.

While he is the Interim CEO, it is understood that Kevin has put up his hand to lead the group long term.