The Auckland-based developer and investor, which raised $160M in July to funds its growth strategy, recently purchased aged care facilities in WA and NSW for AU$44.1M.

“The aged care sector remains large and fragmented and is moving into a consolidation and growth phase that will ultimately require significant investment,” Chief executive David Carr told the National Business Review.

Vital Healthcare currently has AU$77.9M invested in six developments across Australia, five in NSW and one in SA, with a strong emphasis also on private hospitals.

They’re also clearly thinking long-term. Mr Carr said the company’s average lease term in Australasia was 18.4 years as of September, compared to a sector average of 5.5 years.