The private provider has officially opened the 182-bed Edge Hill Orchards facility in Manoora (six kilometres west of Cairns) – its third Far North facility after Infinite Care Caravonica Waters and Edmonton Gardens became operational last year.
As we reported here, listed funds manager and investment bank Moelis bought the majority share in Infinite Care for $45.4 million in September 2017, while founders Chris Stride and Tony Partridge kept their 30% stake and continued to head the business.
At the time, Infinite Care has just five facilities and a pipeline value estimated at $450 million. Moelis said it would target a total return of over 20% per annum over four years for its co-investors.
Infinite Care now operates 10 aged care facilities across QLD and SA – with plans for addition facilities across Australia currently in the works.
