After 15 years, retirement village operator Becton Living has changed its name to Retirement Alliance.

“Our new name reflects the strong partnerships which exist between our residents, staff, owners and financiers as well as our operational and financial independence,” said Retirement Living CEO Stuart Nicholson.

Mr Nicholson added that the change of identity acknowledged the pivotal role that the company’s principle financial backer, the Oman Investment Fund, plays in their business.

“[The name change] signals our renewed commitment to future business success,” he said as receivers and managers were appointed to one of the organisation’s investors, Becton Property Group.

Mr Nicholson assured staff, suppliers and residents that those developments had no impact on the ‘continuing operations or financial position’ of Retirement Alliance and that it was very much “business as usual”.

Retirement Living now owns and operates five retirement villages: Dee Why Gardens (NSW), Classic Residences Brighton (VIC), Menzies Malvern (VIC), Waverley Country Club Rowville (VIC), Woodstock West Bunbury (WA) and The Waniora (NSW).