Hillview House Aged Care, which consists of two Gold Coast aged care homes – Merrimac and Ashmore - with a total 174 beds, has been acquired by Pacific Challenge, which is led by industry specialists Ross Humphreys and Judith Don.
Phil Smith of Health Aged Care Confidential (HACC) oversaw the transaction.
Ross and Judith established Australia’s first high rise aged care facility, with the 35-storey Victoria Towers in Southport on the Gold Coast. They continue to manage the 210 seniors independent living apartments. The aged care facility, which spans five levels of the tower and contains single rooms with ensuites, was sold to Estia Health in 2016.
The vendor of the Hillview transaction is Gold Coast surgeon, Dr Stephen Rackemann.
The Hillview sale price cannot be disclosed due to confidentiality provisions. The transaction is expected to be completed in early July 2023.
Pacific Challenge has also committed to building a 104-bed aged care facility (co-located with retirement village) in Tannum Sands on Queensland’s mid-north coast in the Gladstone region. The development is expected to start in the second half of 2023, opening in early 2025, at a cost of $35 million.
