In Government we have the 12th Minister for Ageing in 14 years, Mark Butler (replacing Justine Elliott). He is reported to have given new life into the sectors relationship with the Department.
For once the industry is excited by Government through the Productivity Commissions inquiry; a lot of long time industry insiders are getting ready to celebrate a new era of Australian aged care.
At the same time the major care providers are still holding back in investing in bricks and mortar, all stating that it is a licence to lose money at the moment. Desperate shortages are predicted in beds within 2 years still in the current Government term.
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...
