MercyCare buys more aged care properties
MercyCare has announced a major expansion, with the Catholic not-for-profit provider buying a portfolio of residential aged care properties from Belrose Care.
The acquisition, which was brokered by Azure Capital, covers four Belrose sites at Joondalup, Kelmscott, Maddington and Rockingham.
The deal, the terms of which were not disclosed, is expected to settle in late September.
MercyCare said the Belrose homes added to its 40-year-old existing residential aged care facility at Wembley, increase its resident numbers from 113 to 500 and increase its staff by 300 to more than 1000.
MercyCare chief executive Officer Chris Hall said the group intended to refurbish and expand the four Belrose sites.
"We are already in the process of undertaking a major refurbishment of our existing facility at Wembley, so we have very recent and ongoing experience in managing extensive capital works projects in an aged care setting," he said.