Arcare announces another acquisition
The Victorian based provider has purchased a fourth Queensland site.
Melbourne based provider Arcare has boosted its footprint in Queensland with the acquisition of a Gold Coast aged care facility.
The 72-bed home in Helensvale is Arcare’s fourth facility in the sunshine state and its fifteenth facility overall.
“This is our first site [of others planned] for the Gold Coast region over the next three to four years as our strategic direction unfolds,” said Arcare CEO, Mal Humphries.
“Arcare’s plans for Queensland expansion are not restricted to the southeast corner alone but may encompass a more northerly direction in the near future.”
The acquisition is the latest part of a strategic plan for expansion into Queensland which the group adopted four years ago.
Arcare built its first facility in Queensland at North Lakes in 2006 and the following year it purchased two existing sites in Eight Mile Plains and Logan. Over the past two years, it has carried out major extension projects at both sites.
The provider now operates a total of 440 beds in Queensland, along with more than a thousand residential care places in Victoria.
“Arcare has seen a steady and sustained growth through its business model of development and acquisition which has enabled product flexibility to meet changing consumer expectations,” Mr Humphries said.
“This latest acquisition is a ‘high end’ product in an excellent location presenting as a Five Star styled building in keeping with Arcare’s quality of service.”
