The Fin Review is reporting the Macquarie-backed company is the latest NZ provider to jump the ditch, meeting with local investors ahead of an initial public offering as early as next month.
In total, the company has 23 aged care homes, seven retirement villages and 18 co-located facilities, plus over 20 sites on the way.
Oceania has had an average annual growth of 32% in recent years, and says it expects similar numbers in the medium term based on the 1,674 new residences it currently has in its NZ pipeline.
A successful IPO would see the provider join NZ’s other major players Summerset Group Holdings, Metlifecare and Ryman Healthcare on the Australian ASX boards.
But unlike its rivals who focus on ILU’s, Oceania specialises in aged care beds which make up 47% of its development plans. In contrast, its ILU’s are forecast to grow to 38%.
Bill McDonald from NZ’s Arvida Group told us at the SUMMIT they have a similar ratio of 50% aged care beds.
Credit: Australian Financial Review
