While not perfect, the general reaction by ACSA and ACAA is quite positive recognition that
the new Federal government is carrying out its pre-election promises in aged care. Extending
the Conditional Adjustment Payment (CAP) for a further year is a step in the right direction
said Greg Mundy, ACSA CEO. Justine Elliot, the Federal Minister for Ageing, pointed out
that the CAP has been increased by 1.75% which will see $2 billion over the next four years,
more than twice what the Howard Government put in over the last four years, she says. CAP is
intended to provide medium-term financial assistance to aged care providers on the basis that
they become more efficient in their management practices.
Mergers & Acquisitions
Brookfield sells retirement village operator Aveo for $3.85B
Brookfield Asset Management, a leading global alternative asset manager headquartered in New York with over US$1 trillion of assets under management, has agreed to sell its retirement living platform, Aveo, to The Living Company for A$3.85 billion...
