GK Goh Holdings, of Singapore, and AMP Capital are in discussions with Morgan Stanley about selling Australia's largest aged care provider, according to a report in The Financial Review.

Opal HealthCare currently operates 102 care communities across NSW, Victoria, Queensland, Western Australia, and South Australia, and has a pipeline of developments. The company has grown through both building new homes and through acquisition. In March 2024, Opal HealthCare acquired Bluecross' 31 aged care homes in Victoria.

Originally Domain Principal Group, Opal HealthCare was owned by AMP Capital Investors. In 2013 AMP sold 47.6% of the company to Asian tycoon Goh Geok Khim's Singapore-listed GK Goh investment company. GK Goh considered selling a portion of its stake 2017, but held on.

In 2023, Opal HealthCare reported revenue of $1.24 billion, and a loss of $65 million. The previous year, the company reported a loss of $55 million on $941 million in revenue. The 2023 revenue included $852 million in Government fees and subsidies and another $203 million in resident fees.

An Opal HealthCare spokesperson told The Weekly SOURCE, "It is not unusual for newspapers to speculate about the ownership structure of large organisations. If there was ever anything to announce Opal HealthCare would do so.”

In November 2023, US-based Bain Capital bought then-ASX-listed Estia Health, which has 73 aged care homes, for $838 million.