BUPA announces aged care and dentistry as its major growth areas
Bupa Australias CEO, Dean Holden, has stated in an interview with the Financial Review that he wants to grow in the greater health business. We want to be in the real care end in terms of nursing and dementia (care). We are also putting GPs into...
Bupa Australias CEO, Dean Holden, has stated in an interview with the Financial Review that he wants to grow in the greater health business. We want to be in the real care end in terms of nursing and dementia (care). We are also putting GPs into our aged care homes so they can provide care to our residents but also to outreach into the community where they can provide care in the home.
To grow he admits he has to make acquisitions. Parent Bupa UK has $5.4 billion available to make acquisitions with Australia being an important focus. While it has 11 million customers across 160 countries, Australia and New Zealand accounts for 43% of all Bupas revenue and 48% of its profits in 2012.
It recently acquired Dental Corp here for $270 million and in the past month alone has acquired six dental practices. Last December it acquired Innovative Cares 1,114 bed operation for approximately $250 million.
It has the benefit of not having shareholders, meaning it can reinvest all profits for growth. Originally the British United Provident Association, Bupa was established in 1947 when 17 British provident associations joined together to provide healthcare for the general public.
