HammondCare plays the long game in aged care
HammondCare has recorded record revenue of $620 million but residential aged care and home care have both taken a hit.
HammondCare has doubled down on its complex care strategy, investing heavily in technology in 2024-25. The spend hit earnings, but with zero bank debt at 30 June, the provider says it’s positioned for growth.
Complex care specialist HammondCare reported an underlying net surplus of $1.2 million (down from $14.6 million), reflecting a $12.2 million IT investment.
Revenue rose 5.8% to $620 million, driven by a 10% lift in Residential Care revenue and a near ten-fold increase from the Hospital to Aged Care Dementia Support Program – a newly funded initiative now operating across 11 locations to transition people with dementia from hospital to home or residential care.
Residential Care posted a $1.4 million deficit, an improvement on last year’s $2.2 million deficit, with established home occupancy steady at around 96.5%.
HammondCare Home Care recorded a $3.2 million deficit (versus a $6.7 million surplus the prior year), largely due to $6.6 million in software investment to prepare for Support at Home and enable future scale.
Home Care Package clients declined from 4,388 in 2023-24 to 4,196 in 2024-25, reflecting long waits for assessments and package allocation.
The balance sheet remains conservative: no bank debt and $16 million cash on hand at year end.
CEO Andrew Thorburn said HammondCare’s ambition is to lead nationally in complex care, specialising in dementia and palliative care.
“This is not just a strategic direction – it’s a missional one,” he said, adding the organisation will continue investing in technology “to improve both the quality of care we provide and the experience of our people” and to “deliver complex care at scale.”
After nine years, Chair Kok Kong Chan retired from HammondCare’s board following its AGM last week.
