The increase in revenue was across both government and resident income delivered by maintaining high occupancy at retirement villages, additional aged care funding for supporting residents with higher and more complex acuity levels, and increasing the number of Home Care Packages by 9.6%.
In addition IRT, based in Wollongong, 85km south of Sydney’s CBD, made $0.8 million from Marco Polo Home Care and Aged Care Services, which the community-based organisation bought in March 2023.
“To fund the delivery of fit for purpose aged care centres we are seeing to grow our retirement village portfolio,” said IRT, which employees 2,669 people.
The organisation, headed by CEO Patrick Reid (pictured) made a loss of $4.49 million in 2023 and achieved a profit of $43.62 million in 2024. It cares for 2,509 people in its aged care centres, has 2,721 residents in its 2,059 retirement units, and has 3,743 clients with Home Care Packages.
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