As Regis Healthcare's share price soars to historic highs, Bryan Dorman, who co-founded the aged care provider with Ian Roberts in 1992, is reportedly looking to sell an estimated $108 million stake in the company.
Bryan has enlisted investment bank Jarden to find a buyer for 15 million shares at $7.44 per share, according to a report in The Australian Financial Review.
The sale would represent about 5% of the company's issued shares, reducing the Dorman family's stake to 16.4%.
In May 2024, The Weekly SOURCE reported Bryan had sold 5.81% of Regis Healthcare, reducing his stake from 27.2% to to 21.4%, and delivering him around $68 million.
Bryan and Ian first floated Regis in 2014, retaining approximately 27% of the company each.
Bryan was one of the orchestrators of Washington H. Soul Pattinson's failed $1.85 per share bid for Regis in 2021.
Last week, the ASX-listed provider presented a third-quarter update at the Macquarie Australasia Conference in which it unveiled plans to build more than 1,000 aged care beds over the next five years, powered by strong balance sheet capacity and reforms coming in under the new Aged Care Act.
Regis operates 68 aged care homes with around 7,600 available beds. The operator has also moved to diversify its services, acquiring home care provider BodeWell Community Care from the Knowles Group in February – doubling its home care footprint.
In November last year, Bryan stepped down as a Non-Executive Director of Regis Healthcare.
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