Australia’s largest residential care provider has marked its entry into the state with the announcement that the Not For Profit’s five aged care homes in Adelaide will be transferred to Opal HealthCare’s ownership on 4 October this year.
Opal HealthCare currently has 93 Care Communities across New South Wales, Victoria, Queensland and Western Australia, and 11,000 dedicated team members caring for over 8,500 residents.
The provider is Australia’s largest privately run residential care operator and is jointly owned by global investment manager AMP Capital and Singaporean investment company G. K. Goh Holdings.
In September last year, ANZ granted Opal HealthCare an $800 million social loan to support its existing Care Communities and fund the future development of new sites.
The group currently has 21 Care Communities planned for development in metropolitan Sydney, Brisbane and Melbourne.
Who is Life Care?
Originally known as Christian Rest Homes and later Churches of Christ Retirement Services, Life Care was established by the Churches of Christ in 1950 and opened its first Glenrose Court aged care facility at Glen Osmond (pictured above) in the foothills of the Adelaide Hills in the same year.
Its other aged care facilities include:
- Aldinga Beach Court, Aldinga Beach, 4km south of the Adelaide CBD
- Gaynes Park Manor, Joslin, 5km northeast of the CBD (pictured, designed by Marchese Partners | Life3A)
- Parkrose Village, Everard Park, 4km southwest of the CBD
- Reynella Lodge, Reynella, 25km south of the CBD
The Not For Profit also has seven retirement villages – some co-located with its aged care homes – plus respite care, home care and assisted living through its Gaynes Park Suites located next to Gaynes Park Manor which are not part of the transfer.
Why are they selling?
Life Care told The Weekly SOURCE exclusively that its board with the support of its member, Churches of Christ in SA & NT Inc. had made the decision to focus on the aged care sector purely through its Home Care, Life Care Active and chaplaincy services.
“With this new strategic focus, it has made the decision to sell its residential aged care homes to leading residential aged care provider Opal HealthCare,” it said in a statement.
“The decision has been made with the needs of Life Care’s residents and team front of mind, and we look forward to seeing best-in-class care continue as part of the Opal HealthCare family.”
The Life Care and Opal HealthCare teams will work closely together throughout the transition of ownership.
“We look forward to providing high-quality care and services to older people and communities in South Australia,” said Opal HealthCare CEO Rachel Argaman.
The transfer follows Opal HealthCare’s acquisition of two Melbourne-based aged care homes in June.
The SOURCE: Its entry into South Australia again highlights Opal HealthCare’s position as the most aggressive player in the residential care sector. The Life Care acquisition will provide the operator with a platform to further expand in the state.
