Bryan Dorman and Ian Roberts founded Regis aged care in 1992 in Mildura. Today they own 45 facilities with about 4,700 beds. Along the way they sold 44% of the company to part of Macquarie Bank but last year bought it back when the company was valued at $550M. Now they have appointed Macquarie to help them prepare to list the company which is due to occur next month. The valuation between $1B and $1.2B, or close to 23 times future earnings. (In July Regis was sounding out the market to value the company at $800M. Since then they have purchased ECH care facility in Darwin).
Dorman and Roberts are said to be selling up to 45% with the intention to raise about $490M to fund further growth. They are aiming to double the number of beds to 10,000.
Sector Moves & People
Janet Anderson out, new Aged Care Quality and Safety Commissioner in
The inaugural Commissioner of the Aged Care Quality and Safety Commission, Janet Anderson PSM, will depart the role next month after six years in favour of a new face.
