Aevum outperforms expectations from IOR merger

Mar 10 2010 Updated July 4, 2023

The Weekly Source

1 min read

NSW based Aevum has informed the stock market that its operating cash flow for the year will be $3-$5 million higher than the $21.2 million it forecast when it announced its merger with the Victorian-based IOR group in January this year. Net profit after tax is now predicted to be $14-16 million for this financial year from its 3,100 ILUs and 367 beds.

Former Estia Health boss appointed CEO of Melbourne aged care operator Mayflower

Not For Profit aged care operator The Mayflower Group, which has three aged care homes and one retirement village in Melbourne, has announced the appointment of global health and aged care leader Paul Gregersen (pictured above) as its new CEO. Paul...

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Caroline Egan

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Opinion

War of words threatens every retirement village with a big financial hit

The council for a tourist city in Queensland, which has seven retirement villages, shows no care for residents as it creates new rules that will cost $60+ million p.a. nationally. The Retirement Living Council has been on the residents’ side in an...

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Ian Horswill

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Mergers & Acquisitions

Banks said to be ready to bankroll Scape’s $3B bid for retirement village operator Aveo

Australia’s largest student accommodation provider is reported to be close to announcing its purchase of the second largest retirement village operator, which was put for sale by its owner Brookfield Asset Management in June last year. The buyer...

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Ian Horswill

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Funding

Land lease operator GemLife’s IPO to surpass Virgin Australia, with 3 July listing confirmed

Adrian Puljich, his father Peter and Singapore diversified company Thakral Corporation opened talks on the possibilility of becoming a publicly listed business in April. A prospectus for the float will be lodged with the Australian Securities and...

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Ian Horswill

16 Jun 2025

500 patients waiting: Gold Coast hospital to open new dementia units

Gold Coast Health is preparing to open a 12-bed Geriatric Evaluation and Management (GEM) Unit and 10-bed Acute Cognitive Unit (ACU) at Gold Coast University Hospital in September.

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Caroline Egan

18 Jun 2025

Development

Juniper breaks ground on aged care staff housing project in the Kimberley

WA aged care provider Juniper has commenced a new staff housing project in Fitzroy Crossing in remote WA, with a soil-turning event attended by CEO Russell Bricknell as well as local aged care residents.

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Regis Aged Care lodges redevelopment plans for Bulimba site in Brisbane

ASX-listed Regis Aged Care has lodged plans with Brisbane City Council to demolish the existing 150-bed aged care home to make way for a purpose-built, four-storey aged care facility with 123 beds.

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Caroline Egan

18 Jun 2025

Development

New village entrant turns sod on first site in Melbourne, 11 months after launch

“Our vision is simple, to build a place where senior Australians feel valued, supported and inspired,“ said Orion International Group Director, Myles Qin, at the sod turning ceremony . Dux Churchill, designed by VIA Architects and Studio Tate, is in...

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Ian Horswill

16 Jun 2025