Arcare Acquires Two Aged Care Facilities from IBIS Group

Arcare has purchased two residential aged care facilities from the IBIS Group in South East Queensland. The facilities are St James Park facility in Helensvale and The Ritz in Hope Island.

The new acquisitions will add 122 beds to Arcare’s South East Queensland portfolio and more than doubles Arcare’s Queensland portfolio of aged care facilities from four to nine.“The IBIS facilities are a perfect fit with our existing and upcoming facilities as they are quality buildings in great locations, setting the scene for Arcare to deliver the kind of care we are known for” said Arcare CEO Colin Singh.

“We will be retaining all existing staff and employing more if necessary” he added.