The acquisition leaves PHG with a total of over 5000 operational aged care beds across 58 facilities – close to 3 per cent of the total Australian aged care market.
Following the purchase, AMP Capital Head of Infrastructure, Australia and New Zealand, Dr Greg Roder praised Domain as a leading provider of aged care services.
“Domain Aged Care is…characterised by modern facilities, a committed and caring work force and a clear vision for the future.
“Domain’s experienced management team, reputation for quality, solid growth track record, and substantial property portfolio makes this a very attractive investment,” he said.
Principal Healthcare Group will be made up of two separate facility portfolios: Principal Aged Care and Domain.
Principal Aged Care facilities are currently operated by the Moran Health Care Group under a management agreement but Domain will continue to operate under its experienced management team.