As reported by the Financial Review, Quadrant Private Equity has reignited discussions regarding the potential sale of its prominent aged-care entity, myHomecare. Collaborating with Gresham Partners to facilitate the deal, the sale is expected to be presented to potential buyers as early as September, with an estimated valuation of approximately $400 million.
Alongside Quadrant, fellow stakeholders including RAC WA and the Mann family are reportedly contemplating the sale of their shares in myHomecare, according to insiders familiar with the matter. The market for potential buyers spans retirement village groups, residential aged care providers, not-for-profit senior living organisations, health insurers, and private capital investors.
Having been a part of Quadrant’s portfolio since 2016, myHomecare has solidified its position as Australia’s largest provider of home healthcare and rehabilitation services over the course of Quadrant’s seven-year investment. Boasting a client base of over 20,000 individuals across New South Wales, Victoria, Queensland, and Western Australia.
Gresham Partners had initially been engaged by Quadrant for a potential deal assessment in the first quarter of the preceding year. While no transaction materialised then, Gresham’s involvement signals renewed efforts towards this strategic move.
As the demand for aged care continues to surge alongside the ageing population, Quadrant’s exploration of myHomecare’s sales aligns with its track record of investments in middle-sized businesses and expansion through acquisitions.
The broader healthcare sector remains a focal point for private equity firms. Estia Health and Bain Capital remain in discussions for a potential acquisition at $3.20 per share.
