South Australian family-owned home care provider My Care Solution has sold its business to Healthcare Australia, which is owned by Sydney-based venture capital firm Crescent Capital Partners.
Healthcare Australia is a healthcare recruiter of nurses, midwives, aged care workers, doctors and medical specialists, with NDIS and home care operations, and Crescent Capital Partners is self-described as "Australia's most active private manager in healthcare".
"We had interest from seven other organisations across Australia. Healthcare Australia was a standout - clinical excellence, a growing presence in community aged care and huge recruitment capability," My Care Solution Founder and CEO Mark McBriarty told The Weekly SOURCE.
The sale of My Care Solution, which has about 850 customers and 250 staff, took effect from 1 May 2024.
"As founders, my wife Lee McBriarty, Gabby Hall, and I have dedicated ourselves to building My Care Solution into a leading provider of exceptional care services," Mark said. "After much consideration we have decided to entrust the future of My Care Solution to Healthcare Australia.
"Both Lee and I are looking forward to reducing our professional commitments and establishing our charitable foundation, with Gabby embracing the joys of motherhood and growing her family. By joining forces with Healthcare Australia, we are confident that My Care Solution will continue to thrive and grow under new leadership."
New private equity is gaining a growing foothold in the Australian aged care sector, with US-based private equity firm Bain Capital acquiring Estia Health, one of Australia's largest aged care providers.
For Purpose Aged Care Australia, the aged care provider established by social impact investment vehicle For Purpose Investment Partners, acquired the 14 aged care homes of privately owned residential aged care provider Signature Care on 24 April 2024.
