About Stuart Bilbrough
B Com, MBA (Dist.), CA (NZ)
Stuart is currently the Chief Executive Officer for Promisia Healthcare Limited, an NZX listed New Zealand provider of aged residential care and retirement villages. Stuart will finish in that role on the 14th July 2023.
Prior to Promisia Stuart was the CEO at Auckland headquartered Radius Residential Care Limited which is also NZX listed and has 25 Aged Care facilities and villages with a total 1,783 care beds and 76 retirement village villas. Radius employs approximately 1,600 staff.
Stuart had previously been the Chief Financial Officer at Radius Care between 2010 and 2017. Over this period he led all financial due diligence of facility acquisitions, business case development for brown and Greenfield opportunities, all funding arrangements with their bank and unprofitable facility divestments. From 2013 to his departure late 2017 Radius grew revenue from $65m to $110m without the need for further capital, and, in what is usually a very low margin industry, grew EBITDA margin substantially.
A key innovation was the successful initiative to partner the Finance Team with each Facility Manager (FM). The FM’s received regular financial support and training through the "Finance Partner Program."
This was based on the book written by Stuart called, “Beyond Bean Counting – Steps for Lifting a Finance Function towards Adding Value.” This ensured more proactive decision making by Facility Managers based on both financial and non-financial outcomes.
Before returning to Radius in 2020 Stuart was the Chief Financial Officer at Tamaki Health Group Limited, a primary health provider. Tamaki is New Zealand's largest network of primary care and urgent care medical clinics with nearly 270,000 enrolled patients (as of Dec 2019).
A major strategic focus for Tamaki Health during Stuart’s time there was growing the business through practice acquisitions. He led due diligence, organised funding, vendor engagement and integration. During his time with Tamaki Health more than a dozen practices were acquired under a variety of ownership structures. This added nearly $30m in revenue and 57,000 new enrolled patients.
Stuart has been in senior finance roles for more than 20 years. He has been a New Zealand Chartered Accountant since 1992 orginally qualifying with Pricewaterhouse Coopers. He holds a Bachelor of Commerce from Lincoln University and a Master’s in Business Administration with distinction from Massey University.
Stuart likes classic people and classic cars.
We can partner with you and help build and maintain a profitable health care business
"I am passionate about aged residential care and its profitable success. Working with the Board of Directors, C suites and Facility Managers at Radius Care and Promisia over more than a decade has been one of my career highlights and a great privilege. Our strong partnership has ensured that all Radius Care facilities were financially strong and why the Radius Care Group is so successful to this day.
"Along with a strong network of subject matter experts that I can access quickly, I look forward to providing similar value adding support and partnering with you to build your health care business and bring long term profitable sustainability."
Stuart Bilbrough
