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Carino Care takes over portfolio of residential aged care facilities

Thomson Geer has acted for Carino Care in its acquisition of a suite of residential aged care facilities from Ark Health Care. 

user iconEmma Musgrave 22 August 2018 Big Law
old man, residential aged care facilities, Carino Care
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Firms: Thomson Geer (Carino Care); Undisclosed (Ark Health Care)

Deal: Carino Care has acquired a portfolio of residential aged care facilities from Ark Health Care.

Value: Confidential

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Area: M&A

Key players: 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, according to a statement from the firm. The pair were assisted by senior associates Jenny Altherr and Emma Smythies, lawyers Tracey Shao and Nell Cantrill, and graduates Hudson Digby and Anni Guo. 

Thomson Geer partner Jonathon Corlett also advised on employment matters in this transaction.

Deal significance: The portfolio consists of 272 approved places across four residential aged care facilities located at Rockdale, Sylvania, Oatley and Russell Lea in Sydney, the statement from Thomson Geer noted.

“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,” said lead partner Marc Wyld.

Commenting on the significance of his company’s acquisition, Carino Care executive chairman 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,” he said.

“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.”

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