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.
The Weekly SOURCE
New retirement report’s golden nugget for village operators is on the final page
There is one sentence on Page 15 of the Downsizing Australia report by ASX-listed land lease community operator GemLife and the leading property website realestate.com.au that should be read by all operators: “For downsizers, the home itself must feel like an upgrade, not a compromise,?”