The shares of Australia’s only remaining ASX-listed pure aged care provider shot to their highest close in more than eight years on Friday, after the Australian Government took its new Aged Care Act to Parliament following a bipartisan deal with the Opposition.
The Government’s proposed aged care reforms include its response to the Aged Care Taskforce, which will require consumers to pay more towards the cost of aged care services.
Regis Aged Care shares were up 11.6% over the week, and have gained 122% over the last 12 months.
The rise prices in the market’s optimism for the aged care sector if the reforms can be implemented.
Last month, Regis reported revenue of more than $1 billion for FY24 and EBITDA was up 28.7% to $107.2 million.
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Regis Aged Care CEO Dr Linda Mellors said at the time that Regis, which operates 67 aged care homes across Australia, is “waiting for the Taskforce response before we press go” on building new homes in Sydney’s Belrose (105 beds) and Carlingford (110 beds).
