Bryan Dorman and Ian Roberts founded Regis aged care in 1992 in Mildura. Today they own 45 facilities with about 4,700 beds. Along the way they sold 44% of the company to part of Macquarie Bank but last year bought it back when the company was valued at $550M. Now they have appointed Macquarie to help them prepare to list the company which is due to occur next month. The valuation between $1B and $1.2B, or close to 23 times future earnings. (In July Regis was sounding out the market to value the company at $800M. Since then they have purchased ECH care facility in Darwin).
Dorman and Roberts are said to be selling up to 45% with the intention to raise about $490M to fund further growth. They are aiming to double the number of beds to 10,000.
Does this pass the pub test? Direct aged care workers awarded wages rises of up to 13.5% by Fair Work Commission – but indirect care workers only given up to 6.8%
Workers across residential aged care and home care will receive wages rises between 3.2% and 13.5% after the Fair Work Commission (FWC) determined on Friday that their work has historically been undervalued. The Stage 3 decision in the long-running...