The two businesses have announced Bain Capital-owned Estia Health will purchase private operator Aurrum Aged Care's three aged care homes on the NSW Central Coast in Erina, Norah Head, and Wyoming and the four homes in Melbourne - Brunswick, Healesville, Plenty, and Reservoir - cementing its position as one of the Top 3 largest residential aged care operators in Australia.
It is expected Estia Health will operate the homes from 1 April 2025.
Sean Bilton, CEO of Estia Health said: “We are delighted that we are able to increase our commitment of care and services for older people through the management of approximately 800 additional residential aged care places across these seven homes, including entry into the Central Coast of NSW to complement existing homes in the Hunter and Mid North Coast regions.”
Estia Health and Aurrum’s management teams met with Aurrum’s residents, their families, and employees this week to outline the transition process and respond to questions. Aurrum and Estia Health said there will be no change in the arrangements of Aurrum residents and continuity of employment for home-based employees.
Investment banker David Di Pilla (pictured inset) founded Aurrum Aged Care in 2016 and was a director and majority shareholder. He is chairman of ASX-listed property investment group HMC Capital, which owns 8% of Ingenia Communities and 2.69% of Lifestyle Communities.
Estia Health will have 85 residential aged care homes when it takes over Aurrum, supporting over 8,500 residents.
The group also completed the purchase of Calvary Health Care's three aged care homes in Robina Rise, Noosa, and Gympie Views, strengthening its Queensland presence with the addition of 406 beds last month.
Recent media speculation has suggested that Bain Capital has already reached its set targets for Estia Health following its December 2023 acquisition of the aged care operator and it may be considering selling out.
