Arcare is not for sale
The Melbourne-based provider has dismissed speculation that it is still on the market following an aborted bid from Healthscope.
Arcare has denied speculation that it is still on the market, following Healthscope’s aborted bid to purchase the company last month.
The private healthcare operator approached Arcare but then pulled out of talks before the sale went ahead.
In the weeks following Healthscope’s approach, Arcare received a flurry of inquiries from overseas and within Australia but the board did not respond to any of the prospective purchasers.
The group’s CEO, Mal Humphries confirmed that Arcare was not for sale.
“The Directors categorically confirm that Arcare is not on the market, nor was it prior to the Healthscope approach,” he said.
“Since Healthscope’s unsolicited approach to Arcare and their withdrawal from the sale process, the Arcare Directors and Management team continue to have an unequivocal commitment to growing the business.”
In the past five years, Arcare has built or acquired eight new facilities in Victoria and Queensland, adding 816 beds to its operations.
The Melbourne-based provider operates14 aged care facilities and 50 Community Aged Care Packages (CACPs). It also has a direct home care business.
The group is currently completing work on a multi-storey 120-bed facility in Melbourne’s Wantirna which is due to open shortly after Easter.
Arcare is also building an extension to its facility in Logan, south of Brisbane and work will begin on a new 90-bed service in Queenscliff in the third quarter of this year.
