With $2B available will Washington H Soul Pattinson invest in the sector once more?

Washington H Soul Pattinson, a diversified investor, has $2 billion to pump into businesses and may once again be eyeing the ageing sector. In October 2019, Soul Patts partnered with Provectus Care Founder and CEO Shane Moran in the investment company's first foray into the sector. The partnership is behind the $80 million retirement village Sage by Moran at Cronulla in Sydney’s Sutherland Shire, which is scheduled to open in November 2023. SUBSCRIBE TO SATURDAY DIGITAL MAGAZINE Soul Patts also failed in a $555 million bid to buy Regis Aged Care in November 2020.

“We’ve got about $600 million of cash, we have a billion dollars of liquidity through undrawn facilities and other assets that we could dispose of to take advantage of opportunities. So, between $1bn and $2bn of firepower,” Soul Patts Managing Director Todd Barlow (pictured) said at the company announced a FY22 net loss of $12.9 million.