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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.
Emma Musgrave
Firms: Thomson Geer (Carino Care); Undisclosed (Ark Health Care)
Value: Confidential
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.”
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
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