Australian Unity, a national provider of home care and support services, is acquiring myHomecare, for $285 million.
myHomecare has been an investment of Quadrant Private Equity since 2016, alongside fellow stakeholders RAC WA and the Mann family.
This acquisition aims to enhance Australian Unity’s home care offerings, especially in self-managed services, and expand its workforce by over 1,000 healthcare workers.
With approximately 20,000 clients, myHomecare serves 12,000 Home Care Package customers and 8,000 Commonwealth Home Support Program customers.
“The acquisition is another important step in realising the Group’s strategies—developing operations that can help address the burgeoning community needs arising from demographic change”
Australian Unity, Group Managing Director, Rohan Mead
Combined with Australian Unity’s existing client base, the merged entity will serve over 50,000 customers and employ more than 6,000 people.
The acquisition will enable Australian Unity to extend its presence into new regions, particularly south-east Queensland.
The payment structure includes an initial $215 million payment upon completion of the deal, with the remaining balance to be paid over 18 months.
