Topic - Aged Care

SATURDAY: Why 5,000 beds is the magic number for this new aged care provider

May 10 2023 Updated June 16, 2023

Section Editor

1 min read

Backed by a $73 million social impact fund, new Not For Profit For Purpose Aged Care (FP Aged Care) has plans to become a major player in aged care and retirement living.

Funded by social impact investing firm For Purpose Investment Partners (FPIP), new operator FP Aged Care is set for rapid growth in residential care – with retirement villages and higher care options to follow.

Led by Toby Hall (pictured), previously the CEO at St Vincent’s Health Australia (SVHA) and Mission Australia, the group announced its first acquisition in March: Melbourne aged care provider Luson Aged Care and its three aged care homes (305 beds) plus a 120-bed development site.

Their aim? To develop scale – hard and fast.

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