Not-for-profit provider St Vincent’s Care Services expands Queensland residential aged care portfolio with the acquisition of PresCare’s Carina, Corinda Brisbane, and Douglas Townsville facilities.
PresCare announced its exit from aged care this time last year, appointing McGrathNicol to help with the sale of 6 properties licensed for 600 residential aged care beds. After failing to secure buyers for all facilities the provider was placed into receivership on May 12, 2021.
St Vincent’s Care Services CEO Lincoln Hopper said the acquisition was an exciting milestone for the organisation and brings its total portfolio of residential aged care facilities to 23 throughout Australia.
“St Vincent’s Care Services recognises the significant contribution that PresCare has made as a not-for-profit care provider to vulnerable older Australians for many years, and we intend to continue building on that legacy,” Mr Hopper said.
“We are aligned in our approach to providing exceptional services for Australians and are grateful for the opportunity to continue to provide quality care to the residents of these facilities.
“We are pleased to welcome PresCare staff, residents, and their loved ones to the St Vincent’s family and look forward to providing quality and compassionate support to those entrusted to our care.”
The acquisition involves a total of 390 residential aged care beds – including 76 beds in dedicated special care units for residents diagnosed with dementia – as well as 300 employees.
The acquisition includes the new WR Black facility at Corinda in central Brisbane, which is yet to open to residents and is unique in offering some rooms to older people who are experiencing or have a history of, homelessness.
“St Vincent’s has always made it a priority to offer ongoing and compassionate care to people from vulnerable backgrounds regardless of faith or circumstance, and we will continue that approach at this well-appointed facility when it opens later in the year,” Mr Hopper said.
“Expanding our footprint to include these three Queensland facilities is part of St Vincent’s Care Services’ 2025 strategic plan to support more people in more places with our outstanding care. We look forward to embarking on that journey at Carina, Corinda and Douglas.”