Australian aged care operator Regis Healthcare announced on January 6 that it is poised to double its home care business after securing a deal to acquire in-home support provider BodeWell Community Care.
Based in Moorabbin, Australia, BodeWell Community Care provides in-home community care and services as part of the Commonwealth Home Support Program and National Disability Insurance Scheme. The company provides its services in Victoria and Queensland.
Regis Healthcare provides services to 9,000 older Australians through residential aged care homes, home care service hubs, day therapy and day respite centers and retirement villages.
The purchase price has not been disclosed, but Regis announced in the original press release from January 6, 2024 that the deal will double revenue for its existing home care business to about $30 million servicing more than 2,500 clients. Regis plans to fund the acquisition from existing cash reserves with the deal expected to settle in the fourth quarter of FY 2025.
The acquisition is the second that has been secured this financial year by Regis, which last month settled the $35.5 million deal for two residential aged care homes at Victoria’s Mornington Peninsula from Ti Tree Operations.
According to data captured in the LevinPro HC database, this acquisition marks the first Home Health & Hospice (HH&H) transaction of the year. There were 93 HH&H deals announced during 2024, including two announced in Australia (Silverchain’s acquisition of KinCare announced in July and Lumia Care’s acquisition of Pop-Up Health in October).
