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.
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The $4B problem: Govt’s proposed liquidity requirements a nail in the coffin for aged care
The Federal Government is seeking to set minimum liquidity requirements for residential aged care providers for the first time – dangerous territory for a sector that has finally reached a level of financial and regulatory certainty. Previously...
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