SATURDAY: BaptistCare chooses optimism – and growth
Read the full story in this week’s issue of SATURDAY, out Saturday 18 February. Subscribe here
With demand for ageing accommodation set to exceed supply, BaptistCare NSW & ACT CEO Charles Moore is leading the organisation on a ‘sustainable path’ to grow its aged care and retirement living portfolio. Billing itself as a Profit for Purpose organisation, BaptistCare is looking to increase its footprint by up to 80%, to a combined 4,000 to 5,000 aged care beds and retirement living units – and capital partnerships, intergenerational developments and Build to Rent could all form part of its future strategy in a rapidly consolidating market, says Charles Moore.
“At a headline level, we think that you need to have between 4,000 and 5,000 beds and independent living units to reach the optimal scale and size,” he said.
The organisation is set to reach this target – and potentially higher – within four to five years with its recent acquisition of three co-located aged care and retirement village developments from Tulich Family Communities bringing its portfolio up from 2,800 aged care beds and independent living units to just over 3,400. Further acquisitions and mergers are also on the cards – as well as a reweighting of its mix in favour of retirement living – Charles told SATURDAY.
“Strategically, for us, we want to see a higher weighting of independent living units so expect to see us doing more in the retirement village space than the RAC space,” he said.
Read the full story in this week’s issue of SATURDAY, out Saturday 18 February. Subscribe here.
