Demonstrating that Not for Profits can access funds, Life Care has paid $9 million to acquire Anglicares Iloura aged care facility in Norwood and has now appointed Marchase Partners and Thinc Projects to modernise their other facilities plus their head office over 10 years. The funding requirement is $180 million. Their CEO, Allen Candy, says their aim is to modernise and de-institutionalise their facilities. Work has commenced on creating 35 new beds at a cost of $9 million at Aldinga Beach Court.
Breaking news: For Purpose Investment Partners’ aged care platform buys Graeme Croft’s Signature Care
For Purpose Aged Care Australia (FPACA), the aged care provider established by social impact investment vehicle For Purpose Investment Partners (FPIP), is moving forward on its vision of reaching 5,000 beds, acquiring 14 aged care homes – eight on...