Beecroft Nursing Home sells following ‘challenging’ sector issues
Hall & Wilcox has advised on the sale of Beecroft Nursing Home following challenging circumstances being felt by Australia’s aged care sector at present.
Firm: Hall & Wilcox (Beecroft Nursing Home), Unknown (Thompson Health Care)
Deal: Hall & Wilcox has advised the sellers on the sale of shares in Salmar Investments and its subsidiary Salmar Holdings, trading as Beecroft Nursing Home, to Thompson Health Care.
Area: M&A, Aged care
Key players: Health and community industry specialist and partner Alison Choy Flannigan and property partner Maurice Doria advised on all aspects of the Beecroft sale to Thompson Health Care.
Deal significance: Beecroft Nursing Home is a 95-bed facility which has been owned by the same family since 1965.
According to a statement from Hall & Wilcox, the sellers have embarked on the deal following the aged care sector facing significant challenges. The firm noted it has been and is currently working with providers to navigate these challenges.
Commenting further, Hall & Wilcox partner Alison Choy Flannigan said the deal involved working collaboratively with the teams at aged care consultants Pride Living and accountants RSM to complete the sale in a tight time frame.
“We achieved a very good outcome for our client, who was interested in both optimising the sale price and also finding a buyer with the right culture who would look after staff and residents going forward,” Ms Flannigan said.
“Our team are industry leaders and have a proven track record in the health and aged care sector, and we understand the unique regulatory requirements.”