Bain Capital-owned Estia Health has struck a deal to acquire Brisbane-based Vacenti Aged Care, adding six established homes and a new development nearing completion in Cleveland to its portfolio.
Founded and operated by the Casagrande family for more than 50 years, Vacenti Aged Care’s homes are located across Hamilton, Coorparoo, Carindale, Mount Gravatt East, Victoria Point and Birkdale. The acquisition also includes a seventh site, a Cleveland aged care home expected to open shortly. Estia Health will assume operations from mid-October.
Sean Bilton, CEO of Estia Health, said the acquisition was an important milestone for the group’s Queensland expansion.
“We are delighted that we are able to increase our commitment of care and services for older people through the management of approximately 750 additional residential aged care places across these seven homes,” he said. “Providing greater presence in Brisbane to complement our existing home in Albany Creek, and homes in the Gold Coast and Sunshine Coast regions.”
The deal follows Estia’s acquisition in March of two of Mark and Evette Moran’s three residential aged care homes, taking its portfolio to 87 homes nationally.
“As a provider of 87 residential aged care homes across Australia, we are proud to offer individualised person-centred care and support to our residents and their families at an incredibly important time in their lives,” Sean added.
A family legacy
The Casagrande family has deep roots in Queensland aged care. Dom and Lucy Casagrande built their first aged care community in 1973. Their son Mario and his wife Louisa later expanded the business, developing a retirement village and four additional aged care homes across Brisbane. Today, their three sons also play key roles: Julian as Chief Executive Officer, Dom overseeing fresh produce supply across the homes, and Alfio leading Vacenti’s new builds and refurbishments.
Julian Casagrande said the family was proud to see the legacy transition to Estia Health.
“We are proud of our family’s legacy of providing dedicated care in the Brisbane community for over five decades,” he said. “We are confident that as the Vacenti services transition, Estia Health will continue to uphold the values and standards that residents and staff know and trust. Our priority throughout this process has been to ensure continuity of care to residents, and we are pleased that Estia Health shares this commitment.”
