In a surprise strategic move Lendlease has jumped back into residential aged care, winning 756 bed allocations – the biggest winner out of 637 operators applying for the 9,911 beds on offer.
Lendlease sold its 31 aged care facilities – nearly all part of its villages – in 2013 to private equity firm Archer, who then created Allity with them as its base. Lendlease received $270M.
We approached Lendlease for an explanation and were told:
“We have previously indicated that we would look at continuum of care within our retirement living villages. This announcement in relation to bed licences is very exciting for our business as it underpins our strategy. We will now push forward with our development plans and continue to explore opportunities to expand and refine our offering to benefit our residents."
The 756 beds will be utilised across seven Lendlease villages.
More information will be revealed over the next month we are also told.
Credit to Lendlease in that they managed the ACAR applications largely in-house, which we understand was like a military exercise, with a senior team going out to each community to collect data and support.
Nine operators won 200 bed licences or more – they are:
- Lendlease Aged Care 756
- Signature (Graeme Croft) 640
- Aegis Aged Care Group 328
- Regis Aged Care 292
- DPG Services (Opal) 283
- Villa Maria Catholic Homes 256
- Palm Lake Care Operations 240
- The Salvation Army (QLD) 240
- RSL Lifecare 228
