August 2023
Bain wins over Estia in $838m victory for private equity
Estia Health, with 73 aged care homes, aims to be an industry consolidator under its new owner Bain Capital, which also owns airline Virgin.
- Updated
- Simon Evans
July 2022
Taps open on public to privates as PE gets mojo back
It’s poaching season for Australian and offshore private equity firms set to unleash a bidding spree targeted at ASX-listed companies.
- Anthony Macdonald, Sarah Thompson and Kanika Sood
October 2021
Japara takeover fuels executive windfall
There is life (or at least profit) after a royal commission. Just look at Japara Healthcare.
- Myriam Robin
August 2021
Japara earnings fall 40pc as COVID-19 bites
The takeover target says occupancy is steady this year as it looks to get the takeover offer by not-for-profit Calvary over the line.
- Updated
- Carrie LaFrenz
- Exclusive
- Aged care
St Vincent’s Care Services buys aged care homes from failed PresCare
The not-for-profit player bought three homes from the failed Presbyterian Church of Queensland, which was placed into receivership in May.
- Carrie LaFrenz
July 2021
- Exclusive
- Company mergers
Japara-Calvary tie-up gets nod from key investor
The aged care player’s second biggest investor David Di Pilla gives the $380 million offer a tick – as long as no other higher bid comes forward.
- Carrie LaFrenz
A Japara bet both ways for Moelis Australia
In the Japara auction, Moelis Australia was both substantial shareholder and adviser to the underbidder.
- Joe Aston
Why the Japara deal signals more consolidation to come in aged care
There are big payroll tax benefits to be unlocked by not-for-profits buying up aged care providers.
- Anthony Macdonald and Yolanda Redrup
Big banks pile into Calvary Health, new debt to help swallow Japara
Catholic not-for-profit Calvary Health Care is understood to have lined up a new $500 million-plus debt facility to help bankroll its bid for ASX-listed Japara Healthcare and fund its wider business.
- Anthony Macdonald and Yolanda Redrup
Japara shareholders warm to Calvary’s $380m bid
Consolidation is underway in the beaten down aged care sector as Calvary pips rival non-profit Bolton Clarke Group to win the approval of Japara’s board.
- Updated
- Carrie LaFrenz
HomeCo’s healthcare REIT primed for asset surge
With the ability to co-own bigger assets like hospitals and life sciences hubs with its unlisted wholesale sister fund, HealthCo REIT’s portfolio could surge.
- Larry Schlesinger
- Exclusive
- Aged care
Soul Patts eyes aged care as M&A heats up in the sector
The listed investment house is widening its view to new asset classes and aged care/ seniors living is on the horizon.
- Carrie LaFrenz
June 2021
Morningstar data breach reveals KPMG deal maker lists
An alert system flaw for ASX-listed companies meant third parties could view project names KPMG had assigned, such as ‘Project Africa Comps’ for debt collectors.
- Liam Walsh and Edmund Tadros
Bidding battle for Japara as Bolton Clarke joins the fray
Bolton Clarke Group has put up a $326 million takeover bid, bettering an earlier sweetened bid of $320 million from Calvary Healthcare.
- Nick Lenaghan
Japara grants suitor access to its books
Calvary Healthcare will take a look under the hood of the listed aged care player after it upped its all-cash indicative offer to $1.20 per share.
- Carrie LaFrenz
May 2021
Aged care stocks gain on budget, questions remain on wages
Aged care operators said budget measures would help stabilise the industry but the $17 billion package did not answer the question of higher staff wages.
- Carrie LaFrenz
April 2021
Calvary Health Care makes $278m bid for Japara
The bid by the cashed-up, not-for-profit operator may trigger other bids for the listed operator in a troubled sector.
- Michael Bleby
Aged care daily payment should be uncapped: industry
The daily payment aged care operators can charge should be uncapped for those not supported by government, industry experts say.
- Matthew Cranston
March 2021
Aged care workforce needs higher pay and better education
The royal commission has made 148 wide-ranging recommendations including residents getting daily minimum staff time, and professionalising the workforce through more education, better training, and higher wages.
- Updated
- Carrie LaFrenz
September 2020
Rising demand from Boomers lifts pressure on aged care sector: report
Uncertainty over securing skilled staff and capital, as well as the regulatory environment, are among the concerns of operators, a new Colliers report shows.
- Michael Bleby