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Apollo Care acquires 3 residential aged care facilities

Russell Kennedy Lawyers has advised Apollo Care Alliance on the group’s acquisition of three residential aged care facilities from the receivers and managers of the Presbyterian Church of Queensland.

user iconEmma Musgrave 26 July 2021 SME Law
Apollo Care acquires 3 residential aged care facilities
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Firms: Russell Kennedy Lawyers (Apollo Care Alliance); Undisclosed (receivers and managers of the Presbyterian Church of Queensland).

Deal: Apollo Care Alliance (Apollo Care) has acquired three residential aged care facilities from the receivers and managers of the Presbyterian Church of Queensland (PresCare).

Value: Confidential.

 
 

Area: M&A.

Key players: The Russell Kennedy Lawyers team was led by principal Rohan Harris and senior associate Kate Littlewood.

The pair were supported by principal Sara Hatcher, senior associates Ellen O’Neill and Abbey Burns, and lawyers Mary-Anne Flores and Johanna Heaven.

Deal significance: As per a statement provided by Russell Kennedy Lawyers, Apollo Care has added the three regional PresCare facilities “to its expanding aged care operations with a unique promise to preserve the important role PresCare plays in each of its local communities”.

“The sites, Alexandra Gardens in Rockhampton plus Yaralla Place and Groundwater Lodge in Maryborough, will take Apollo Care’s aged care portfolio to five communities and over 400 beds. Each facility will continue to operate under the PresCare name,” the firm said.

“The transaction also included the acquisition and transition of NRAS funding arrangements for 60 affordable housing tenancies at Alexandra Gardens and Groundwater Lodge.”

Commenting further, Mr Harris said: “We were thrilled to assist the leaders of Apollo Care with the successful acquisition.

“The Apollo Care acquisition model is addressing a long-standing problem for not-for-profit providers who are challenged by the clinical and financial risk of running residential aged care operations but who wish to maintain their care and community purposes.”