Regis Aged Care pays $135m for four Rockpool homes in south east Queensland
An ASX-listed aged care giant will pay $135m for privately-owned south east Queensland company that will add four homes and 600 bed to its expanding portfolio.
A national ASX-listed aged care giant will acquire four Rockpool homes in south east Queensland which will add 600 beds to its portfolio.
Regis Aged Care will pay $135.5m for 100 per cent of the ordinary shares of the privately owned Rockpool RAC Holdings Pty Ltd.
The deal will add four Rockpool Residential Aged Care homes in Morayfield, Carseldine and Oxley in Greater Brisbane and Pelican Waters on the Sunshine Coast bringing Regis’ aged care portfolio to 72 homes and about 8200 beds across Australia.
Rockpool chief executive Melissa Argent said the sale was expected to be completed on September 1.
“Despite the challenges our sector has faced over the past few years, Rockpool has
continued to construct and operate stunning, state-of-the-art homes,” she said.
“The sale highlights the value of what Rockpool has created over the past seven years.
“Construction will continue at Rockpool Northshore Hamilton and commence shortly at
Rockpool Kedron.”
According to company accounts Rockpool reported a loss after income tax benefit of $761,864 in the 12 months to June 30, 2024 and $2,105,608 the year before. However, the company reported revenue of $53,997,285 in FY24 compared to $29,554,908 the previous year.
Rockpool was founded in 2016 by Bill Summers and Michael Watson.
Regis’ managing director and chief executive Dr Linda Mellors said the acquisition of Rockpool aligned with their strategy to broaden their residential aged care footprint.
“I commend the founders for establishing such a high-quality business. We look forward to welcoming Rockpool’s residents, families, staff and communities to Regis and we are committed to ensuring a smooth and supportive transition,” she said.
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