Aveo sells four co-located aged care homes to Opal to focus on its 92 retirement communities and home care

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Aveo is focusing on growing its retirement and home care portfolio, after sealing a deal that will see Opal HealthCare operate and own Aveo’s four residential aged care communities.

This transaction kick starts a strategic partnership with Opal to develop and operate aged care homes adjacent to Aveo villages. The partnership also includes the transfer of two development sites to Opal HealthCare: The Clayfield in Brisbane, and Aveo Mingarra Aged Care.

Aveo states its focus is now on its 92 Retirement Living Communities and the delivery of Home Care services, now titled ‘Care at Home’. They have 1,000 Care Packages under management and want to grow to 2,000 by 2023.

“Welcoming Opal HealthCare to our co-located retirement living communities strengthens the full continuum of care offer for customers: independent retirement living, support and care services in the home, and with the reassurance of residential aged care when and if it is needed,” said Aveo CEO Tony Randello (pictured).

“We wish to invest in and grow our ‘Care at Home’ offering to support the growing needs of the residents who are looking to live independently at home in one of our retirement living communities for as long as possible.”

Opal HealthCare, which manages 80 residential aged care homes in NSW, Victoria, Queensland, and Western Australia, will take on the operation and ownership of Aveo Durack Aged Care, Aveo Newstead Aged Care, both in Brisbane, along with Aveo Mingarra Aged Care in Croydon, 28km east of Melbourne’s CBD, and Aveo Minkara Aged Care in Sydney.