The ASX-listed leading residential aged care provider today announced it has paid $135 million for the private operator's four residential aged care homes, three in Brisbane and one on the Sunshine Coast.
The addition of Rockpool's 600 beds, boosts Regis Aged Care's portfolio to 72 homes with 8,200 beds.
The net cash outlay includes Refundable Accommodation Deposit liabilities of approximately $204 million. The price equates to $225,000 per bed, net of RADs. Regis anticipates receiving an additional $40 million in future net cash inflows from RADs as Oxley, which opened in March, ramps up to full occupancy.
The sale will free up capital for Rockpool to continue development of its three remaining aged care sites at Northshore Hamilton, Kedron, and Southport, which it will retain.
Details of the four homes being acquired are shown in the table below - they are large, new, high end, and full, apart from Oxley.
Regis’ Managing Director and CEO Dr Linda Mellors said, “This acquisition aligns with our strategy to broaden our residential aged care footprint through the acquisition of premium homes. I commend the founders for establishing such a high-quality business.”
Rockpool CEO and Director Melissa Argent said, “Rockpool and Regis have many common values, including the shared vision to change how aged care is offered in Australia. We are incredibly proud of what we have created.
“Despite the challenges our sector has faced over the past few years, Rockpool has continued to construct and operate stunning, state-of-the-art homes. The sale highlights the value of what Rockpool has created over the past seven years.
“Construction will continue at Rockpool Northshore Hamilton and commence shortly at Rockpool Kedron."
Regis expects the four Rockpool homes acquired to contribute EBITDA of $7-8 million in FY26 for the anticipated 10 months of ownership. On an annualised pro-forma basis, if Regis had owned the homes for 12 months and they were all fully operational for the full year, Regis forecasts they would contribute approximately $13-14 million in EBITDA.
The transaction is expected to be completed on 1 September 2025. The customary approval conditions apply.
