Not for profits trade aged care homes, retirement village
Presbyterian Aged Care has sold its last aged care home – part of a portfolio also with two retirement villages, all in inner west Sydney.
BaptistCare, which recently announced a merger with Baptcare (Vic, Tas, SA) and Baptist Care SA, is the buyer of Drummoyne’s Iona Village (pictured, top) and Minnamurra and at Ashfield, Pitt Wood Village.
It will assume operations in June, retaining the combined c100 staff.
The deal comes two days since we reported Estia Health, since 2023 owned by Boston’s Bain Capital, acquired two high-end multi-level Sydney aged care homes – at Little Bay and Warrawee – from Mark Moran Group.
BaptistCare flexes muscle
PAC has been shedding its portfolio for two years since announcing a proposed merger with Anglicare; it once held 15 retirement villages and nine aged care homes all up accommodating c1000 residents (story continues below).
The latest deals comes nine months since BaptistCare agreed to buy PAC’s home care services in metropolitan Sydney, Illawarra and New England.
In 2023 meanwhile, PAC sold Anglicare Paddington’s The Terraces.
Following the settlement of Minnamurra – its last aged care home with 66 beds – Iona Village, with eight units, and Ashfield, with 25 independent suites, PAC will still control three assets.
BaptistCare meanwhile, post-merger, is the country’s third biggest integrated care and service provider holding 34 retirement villages and 50 aged care homes.
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