Skip to main content RSS Info Close Search
Feedback

Opal Aged Care continues growth through acquistition

Aged care provider, Opal Aged Care, has announced the acquisition of Aquarius Aged Care, a deal which is expected to see the provider acquire 551 operating beds across nine homes in New South Wales and Queensland.

<p>Opal Aged Care managing director, Gary Barnier, says the recent acquisition of Aquarius Aged Care will strengthen Opal's position as a leading specialist residential aged care provider.</p>

Opal Aged Care managing director, Gary Barnier, says the recent acquisition of Aquarius Aged Care will strengthen Opal's position as a leading specialist residential aged care provider.

The acquisition is part of Opal Aged Care’s continued plans for growth and follows the acquisition of Stockland’s aged care portfolio earlier in the year.

At completion of the deal, Opal Aged Care will operate 69 residential aged care homes across four states in Australia and have 23 brownfield and greenfield sites under development.

The newly purchased portfolio, predominately located in Northern and Western Sydney, further builds on Opal Aged Care's already strong presence in Sydney and strategy to meet the growing demand for the delivery of high quality residential aged care.

Opal Aged Care managing director, Gary Barnier, says the recent acquisition, along with the appointment of aged care sector expert Professor Peter Shergold AC as the chairman of the provider's Board, has given it further opportunity to strengthen its position as a leading specialist residential aged care provider.

“In addition to the recent acquisitions and major refurbishment of existing homes, Opal Aged Care continues to invest in local communities through the construction of new homes in areas where the demand for specialist residential aged care is high,” Mr Barnier says.

This includes the development of a 144 bed home in Rutherford, in the Hunter region of New South Wales, and the development of a 133 bed home as part of the redevelopment of the Cardinal Freeman Village in Ashfield, Sydney.

Opal also plans to build homes in the Sydney suburbs of Toongabbie, Wentworthville, Cabramatta, Blacktown and Penrith after being awarded 966 places by the federal government in the latest Aged Care Approvals Round.

Aquarius Aged Care chief executive, Dr James Grealy, claims Opal Aged Care has the size, experience and capacity to lead the organisation into a new era.

“This is a very positive development for all residents, families and staff,” Dr Grealy says.

The acquisition will settle in early 2015, with Opal Aged Care and Aquarius Aged Care working closely to ensure a seamless transition for both Residents and staff. All existing resident and employee agreements will be transferred to Opal Aged Care without change.

The following homes will be acquired through the deal:

  • Anita Villa, Katoomba NSW
  • Austral House, North Manly NSW
  • Belvedere, Wahroonga NSW
  • Glen Lynn, Auburn NSW
  • Leamington, Southport QLD
  • Netherby, Wahroonga NSW
  • Ocean View, Mona Vale NSW
  • Palm Grove, Narraweena NSW
  • Wallgrove, Lakemba NSW

Comments

Read next

Subscribe to our Talking Aged Care newsletter to get our latest articles, delivered straight to your inbox
  1. A new study published in Alzheimer’s & Dementia:...
  2. Our furry friends are more than just pets. They are cherished...
  3. The Department of Health and Aged Care will address the...
  4. As one ages, it’s a good idea to keep as healthy and active...
  5. Lutheran Services has become one of the first Aged Care...
  6. What would you like to see from the new Aged Care Act in...

Recent articles

  1. There are genetic and modifiable factors that make people...
  2. This Easter, tightening connections could help combat...
  3. Improving your diet and increasing exercise could reduce your...
  4. Knowing you can access reliable information in one place could...
  5. Will July be a gamechanger in upholding the rights of older...
  6. What are the lasting impacts of sexism on older women?
  7. How could technology reduce cognitive decline in older...
  8. Do you believe that some workers are more entitled to a raise...
  9. At 2pm AEDT, aged care staff will learn the Fair Work...
  10. Understanding more about the 60-day prescription update to the...
  11. Multiple options are available to organise your medications
  12. Looking to move into the modern age of communication and speak...