Healthcare and aged care operator DCA Group is looking to buy the Regis Group.
DCA Group’s chief executive David Vaux and Regis Group’s executive chairman Bryan Dorman said the parties have started an exclusive due diligence exercise.
The Regis Group is one of the Australia’s largest aged care operators.
The company owns a total of 1,575 beds in 18 facilities in Victoria and Queensland, comprising 455 low care beds, 960 standard high care beds and 160 extra service high care beds, as well as an extensive portfolio of aged care development and construction projects.
“We believe the Regis team have the same commitment to quality care and sound management that is the hallmark of the success of our Amity aged care business,” he added.
Vaux said that DCA had been assessing, for some time, the most efficient funding options for its aged care real estate holdings.
“In particular, we have been looking at whether DCA will continue to wholly own its property assets or move to an alternative structure such as partial ownership through a listed property trust.
“The Regis acquisition will add further scale to DCA’s aged care real estate holdings and may warrant a change to the current strategy,” Vaux said.
By Adam Parsons
