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Chris Hall, CEO of MercyCare in WA predicts in AAA Magazine that the Not For Profit residential aged care market share will drop from 60% to 30% over the next 10 years and private operators will fill the gap up to 60%. (Government operators will claim the remaining 10%).
With 63% of private aged care facilities being single premises operators, investment analysts state the private aged care sector is headed for consolidation with five likely winners.
Prof John G Kelly (pictured), CEO Aged & Community Services Australia, says ageing and aged care encompasses 14.7% of Australians - and increasing – but is represented in Cabinet by the Minister for Social Services, with an Assistant Minister (currently Mitch Fifield) responsible for day-to-day ageing policy.
Why the rush for acquisition of residential aged care facilities?
The talk on the street is that Estia Aged Care has made approaches to buy Allity Aged Care, a deal which could be worth $1 billion.
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