TG acts for Carino Care on aged care acquisition

20 August 2018

News

Thomson Geer has acted for Carino Care on the acquisition of a portfolio of residential aged care facilities from Ark Health Care. The portfolio consists of 272 approved places across four residential aged care facilities located at Rockdale, Sylvania, Oatley and Russell Lea in Sydney.

The Thomson Geer team was led by Partners Marc Wyld on the M&A/health regulatory side and Brett Hawkins on the real estate side, assisted by Senior Associates Jenny Altherr and Emma Smythies, Lawyers Tracey Shao and Nell Cantrill, and Graduates Hudson Digby and Anni Gao. Partner Jonathon Corlett also advised on employment matters.

Marc Wyld said “We have a longstanding relationship with the Carino Care executive team and it was a privilege to act for them on this transaction. Their expertise and enthusiasm for turning around these facilities and dealing with the vendor’s compliance and accreditation issues at the facilities is remarkable.”

Executive Chairman of Carino Care Rob Hankins said “We believe it is a privilege to care for older vulnerable people. Consumers, and the new Quality Standards, have heightened expectation that service providers will partner with residents and their families, to ensure that the highest quality of care and service is provided to them. We believe this is the right approach and reflect this expectation in our values. Our first step will be to regain full accreditation across three of the four facilities.  We will also reassure our residents, their families and our staff that their wellbeing is the centre of our attention. The safety and quality of life for our residents in the number one priority for us.”