Becton Living not tied up in Christmas corporate wrestle

Jan 24 2013 Updated July 4, 2023

The Weekly Source

1 min read

The retirement arm of Becton, Becton Living, has been at pains over the Christmas period and January to point out that it is not embroiled in the scrappy fight for board control of Becton Property Group or its inherent debt funding issues.
One of the largest shareholders in Becton Property Group, Mariner, has attempted to get its CEO, Darren Olney-Fraser, elected to the Becton board after Goldman Sachs and Fortress Investment Group took over the Bank of Scotland [BOS international] controlled Becton debt totalling $242 million.
Becton Living, with six villages in approximately 1,000 ILUs, negotiated refinancing before Christmas by Stuart Nicolson [Becton Living CEO pictured] with its long-term partner the Oman Investment Fund, an Omani government sovereign fund.

Exclusive: Aveo to sell off its retirement villages in South Australia and Tasmania

Tony Randello, CEO of the nation’s leading retirement village provider, said the impending sale of its 16 retirement villages in South Australia and Tasmania “aligns with Aveo’s regular strategic review of opportunities across its portfolio”. The...

Ian Horswill

22 Apr 2024

Government Policy

New Quality Standards will come into effect with new Aged Care Act: Department confirms

The Department of Health and Aged Care has confirmed that the strengthened Aged Care Quality Standards will be rolled out at the same time as the new Aged Care Act. “The strengthened Standards have been finalised and will come into effect in line...

Caroline Egan

11 Apr 2024

Opinion

Opinion: what could be on the table for aged care on Budget night?

With just over four weeks until the 2024-25 Federal Budget is announced on 14 May, anticipation is building for Treasurer Jim Chalmers to restore some much-needed certainty to the aged care sector. As we report in this issue, the Shadow Minister for...

Lauren Broomham

11 Apr 2024

The Weekly SOURCE

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...

Lauren Broomham

20 hours ago

Breaking news: For Purpose Investment Partners’ aged care platform buys Graeme Croft’s Signature Care

Lauren Broomham

20 hours ago

The Weekly SOURCE

Aged Care Minister Mark Butler’s big change for residential aged care

The Minister for Health and Aged Care Mark Butler announced during the week that pharmacists will be funded by the Government to go into residential aged care homes and deliver vaccines to residents for free, a measure that was previously only...

Caroline Egan

23 hours ago

The Weekly SOURCE

Low vaccination rates may have impacted death rates in residential aged care

A lack of vaccination data The vaccination campaign began on 22 February 2021, and was criticised for being rolled out too late. Vaccinations in residential aged care were also criticised for being too slow. When the Omicron outbreak began in...

Caroline Egan

23 hours ago

The Weekly SOURCE

Opinion: Hospital wait times are a dire sign of the future that awaits ageing Australia

The latest data shows hospital beds are at a premium – and older Australians are the most likely to miss out. Is there a solution? As we report in this issue, emergency wait times are at their longest in a decade while surgery wait times are at...

Lauren Broomham

23 Apr 2024