Queensland-based aged care provider PresCare, a ministry of the Presbyterian Church of Queensland, today announced that following a review of its business it had decided to withdraw from residential aged care services and offer its facilities for sale.
PresCare has commenced a formal sale process for its RAC portfolio, with interested parties expected to commence due diligence next week.
Portfolio comprises six operating facilities:
- Alexandra Gardens – Rockhampton
- Groundwater Lodge – Maryborough
- Yaralla Place – Maryborough
- Protea by PresCare – Townsville
- Vela – Carina
- Lake Sherrin – Thornlands
The facilities are licensed for approximately 600 residential aged care beds and include some independent living properties.
Also available is the new WR Black facility at Corinda, where construction is complete and operations have not yet commenced.
PresCare CEO, Wayne Knapp, said the decision to exit residential care was made after detailed and careful review.
“The ongoing capital required to be invested by providers is significant,” he said.
“It has been determined it would be better to redirect the Church’s resources to a broader range of ministry, rather than the current concentration of PresCare’s aged care operations. Therefore, the facilities will be sold to suitably qualified and resourced alternative operators”.
PresCare now joins the quiet bolt for the door by operators. No mention of RAD commitments however.