This week the WA Legislative Council approved the introduction of three month limits to recurrent charges (weekly fees) after a resident leaves a village for all new contracts and six months for existing contracts. This is the most aggressive impost on operators nationally; in NSW its nine months for instance. So an operator with ten vacant ILUs at $100 per week will be paying $1,000 per week subsidy to village operations. Historically other states follow new consumer affairs initiatives such as this. The legislation still has to pass the WA Lower House, expected by Christmas.
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...