On top of its retirement village expansion, AMP will now indirectly controlled 5,000 beds in aged care, which is 3% of the Australian market. Principal Healthcare Group, part of AMP Capital Investors, paid $300 million for Domain Aged Cares 16 aged care facilities. The next largest operator is Britain's BUPA, which bought the Amity group last year with 3,600 beds.
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Our big idea: co-located retirement villages can solve hospital ‘bed occupancy’ in 16 weeks
Across Australia 2,000 hospital beds now hold 2,000 older Australians getting sicker, waiting for an aged care bed. The cost: $1,500 to $2,000 per day. Could co-located retirement villages offer a solution?