Upgrades for aged-care facilities after commercial deal
A Sydney-based aged care provider will be forming a commercial partnership with three facilities in Rockhampton and Maryborough, with the aim of investing in and redeveloping them.
The three PresCare sites, Alexandra Gardens in Rockhampton, as well as Yaralla Lodge and Groundwater Place in Maryborough will be acquired by the new organisation.
CEO Stephen Becsi said the partnership would allow organisations like the Presbyterian and Catholic churches to continue their mission within the age care facilities, but exit the industry as operators.
"Apollo Care will be investing in the operational and built form of these three aged care communities, while partnering with the Presbyterian Church to continue to provide the pastoral care and spiritual support that makes these sites special," he said.
This will bring Apollo Care's portfolio up to five facilities, including aged care sites in Sydney and Kempsey.
"We think that acquiring organisations, facilities that are struggling, is where we can provide far more immediate impact," Mr Becsi said.
He said the partnership would allow investors to fund upgrades to the facilities, like installing Wi-Fi and adding more beds by reducing large double-bed spaces into single-bed rooms.
"We already have the plans in place, we already know what we're going to do, it's just a matter of the licences transferring over," Mr Becsi said.
"We've created, at a simple level, a board that deals with the maintenance of the purpose of each of the organisations that comes into the alliance."
He said they were "almost ready to go" and the contract had been signed.
Apollo Care's ambitions have been planned for five years and the organisation was formed from industry leaders, with Mr Becsi being the former CEO of Bethanie Group in Western Australia.
Apollo Care's senior management team also comprises of former Domain Aged Care (Opal) CEO Barry Ashcroft, former Aveo national care governance manager Kylie Radburn and KTM Capital principal John Young.
PresCare CEO Wayne Knapp believes the partnership is a win-win solution.
"I am confident the experienced team at Apollo Care will continue to deliver high-quality aged care at these three sites, while involving us in future services development and partnering with us to support the ongoing spiritual needs of residents," Mr Knapp said.