Aveo invests in two allied care businesses to deliver health services to residents and bottom line income

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Aveo CEO Geoff Grady has announced the purchase of 50% of The Physio Co. (VIC) and Mobile Rehab (QLD). Each business delivers physiotherapy services into predominantly aged care facilities but also home care services including rehabilitation, post acute care and palliative care.

Grady states the investments are a significant strategic initiative for Aveo. “Greater availability of allied health services will ensure our residents have more peace of mind”. This objective is to be the preferred supplier of care services to his 12,000 Aveo residents.

He states they are keen to help grow these rapidly expanding businesses and expects the investments will generate a significant component of their FY18 care services earning target of $8 million.

Grady identifies that care and ‘wellbeing’ is a significant component in Aveo’s future village offering. He points out they already offer a GP service at their QLD village Durack and they are committed to expanding co-located villages with residential care.

Separately Grady announced this week they have finalised strategic relationships with home care partners. RSL Care will be Aveo’s preferred supplier of low care and support services to 15 Aveo villages in Queensland; RDNS will add 14 villages to the 22 in VIC it already services; WA’s St Ives Group will partner on 11 villages, also in VIC.

These corporate partnerships are based on a revenue or profit share basis.

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