The investment business behind nursing staffing agencies including YNA, Alpha Nursing and Human Management & Nursing Services, Torrens Medical and its Hospital in the Home service, has bought Life Care’s seven retirement villages in Adelaide.
The portfolio, which also includes some with co-located aged care homes, will operate under ‘Torrens Retirement Services’.
Torrens already had a Development Application underway for a five-storey retirement village in Kingswood, 5km south of the CBD, which will feature 37 independent living apartments with a concierge and care support on-site (pictured below), which will be similar to Gaynes Park Suites, 5km northeast of Adelaide at Joslin, which Torrens acquired from Life Care.
Torrens Health is part of Torrens Capital, a local private equity firm specialising in small- to medium-sized business acquisitions headed by Managing Director Joel Hepburn-Brown.
A qualified solicitor, Joel oversaw the establishment of Torrens Capital’s main fund in 2008. Prior to this, he worked with his mother Lyn Hepburn-Brown to build the Nursing Agency of Australia Group into one of Australia’s largest nursing agencies before its sale in 2004.
Life Care’s former CEO Allen Candy is acting as a consultant to Torrens Health and with its own home care provider Alpha Support at Home, the group appears set to capitalise on the growing demand for retirement living that also provides care and support.
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