We are only three weeks into the new year and it is already shaping up to be yet another big year for residential and home care.
New data shows that aged care acquisitions are up 25% on the previous year with more on the way – a sign that consolidation in the sector is increasing pace.
After six years, Seven has sold up its stake in listed aged care provider Estia Health – but does the sale really signal doom and gloom?
And Sundale CEO Helen Sharpley reveals why the provider is turning to retirement villages to bolster its aged care coffers – despite a five-star rating for one of its homes.
Plus, there is now just under two months to go until the 2023 LEADERS SUMMIT in March – we will have 40+ CEOs and experts in their fields on the podium in Sydney so make sure to book your seat now.
By Lauren Broomham
Here to stay: Australia records 10-fold increase in COVID deaths in 12 months – but do people care?
As Australia and the world enters the fourth year of the global pandemic, COVID shows no signs of going away – and the aged care sector will continue to bear the brunt. Is it time for a new strategy?
Aged care acquisitions up 25% last year as 44 aged care homes changed hands
StewartBrown released its latest Aged Care Financial Performance Survey over the summer break, and it did not make for relaxing holiday reading. The aged care accountants reported that in the September quarter, 70% of aged care homes operated at a loss, up from 56% at the same time the previous year.
Seven Group, until last week Estia’s largest shareholder, has sold its 10% equity stake in the aged care provider. Seven held the shares for six years, acquiring the bulk of their investment in 2016 for $3.24 per share.
5-star model aged care home turning to retirement living for growth
Aged Care Minister Anika Wells promoted the new star rating system for residential care with a visit to operator Sundale’s Bowder home in Nambour, Queensland. Bowder was one of only 20 homes to achieve a five-star rating in the country.
Australia’s COVID deaths falling, but still high by global standards
The latest Omicron wave to sweep through aged care homes is easing in its severity, with the latest statistics showing declines in cases and deaths. But Australia’s death rate from COVID over the last 12 months has been one of the highest in the world, with cases surging since we reopened borders early last year.
Mother of eight receives aged care’s first banning order
A mother of eight has become the first aged care worker to be banned from working in aged care in Australia, after she was caught stealing from residents.
Strategies for aged care and retirement living three/seven years out
At this LEADERS SUMMIT, we address retirement living and aged care in 2026 and 2030.
This is the story of two horizons – strategies today for adapting to new regulations and challenging funding over three years to 2026, and extended horizons out to seven years (2030) that will be the legacy of today’s leadership.
Join us at the LEADERS SUMMIT and take time out to strategise, learn, and network with 500 of your peers, as we build your understanding of new thinking in these uncertain landscapes, and the paths the innovative leaders are charting for their organisations and why.
40+ Leading Speakers
Experience 40+ presentations by the sector’s leading early innovators, and review your core strategic assumptions, elevate your goals and take action with confidence.
Private and Not For Profit CEOs, legal, property, banking, finance and regulatory experts will share their strategic insights, including:
Retirement Living, Assisted Living, Home Care, Residential Care
In two days understand the new models of seniors accommodation: property, finance, workforce, state Vs federal regulations, ROS, market drivers and more.
Premium networking with 500 leaders
Join the leading executives in your sector across two days, including:
Premium venue: The Hyatt Regency Sydney
Extended 45-minute premium barista coffee breaks
Sit down Sailmaker restaurant lunch each day
Our famous Hatted Restaurant Dinner (Thursday night/operators exclusive)
Attendance limited to 500 delegates
Register now to ensure your attendance. With premium seating at stage-facing carousel tables, space is limited to 500 delegates. Each year the LEADERS SUMMIT sells out – so don’t delay in reserving your participation.
Exceptional value
We are committed to delivering the optimum experience and knowledge transfer at a reasonable price, with noincreases despite rising tariffs across venues and restaurants.
Metro aged care homes lumped into same funding bracket as regional homes
Under the new AN-ACC funding model, aged care homes in metropolitan cities are in the same Modified Monash Model (MMM) funding bracket as homes in rural towns, although costs are higher in country areas.
Aged care CEOs write publicly on the need for Plan B: residents who can afford it should pay more
Catholic Health Australia CEO Pat Garcia and Bupa Asia-Pacific Chief Executive Hisham El-Ansary have publicly backed DCM Group’s Plan B over the holiday period – stating that residents who can afford it should pay more for aged care.
Mark Butler on 7.30 – only 14% of medical graduates become GPs
Mark Butler appeared on the ABC’s 7.30 news program last week. The Minister for Health and Aged Care has impressive credentials to lead aged care, but his rhetoric was not dissimilar to that used by the previous Government.
Infin8 Care has acquired three aged care homes from small private operator Retreat Care, for an estimated $100 million, although the actual price has not been revealed.
Residents return home as Melbourne’s landmark Calvary Kooyong opens
Calvary Bethlehem patients, residents and staff have moved safely into their new high rise health, retirement living and residential aged care ‘integrated precinct’.
Image: Productivity Commission report on Government Services – Aged Care
By Caroline Egan
Productivity Commission report on aged care – it doesn’t look good
The Productivity Commission’s report on the performance of the aged care sector was released overnight on Tuesday, immediately generating negative media coverage.
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