Family-owned aged care provider Medical & Aged Care Group (MACG) has expanded its footprint with the acquisition of two prominent Melbourne facilities, Cheltenham Manor and Greenwood Manor.
The deal brings MACG’s portfolio to 11 homes across Victoria, with the additional 207 beds lifting its capacity to more than 850 residents. The acquisition also strengthens its position as one of Melbourne’s largest family-run providers, at a time when competition from corporate and not-for-profit players continues to intensify.
Successfully secured through a competitive bid process, the purchase was completed at a net cost of $200,000 per bed. Refundable Accommodation Deposits (RADs) and similar resident liabilities across the two homes total around $85 million.
MACG Chief Executive Cameron McPherson described the acquisition as “a landmark moment” for the organisation.
“We competed with major industry providers to acquire these new homes, our success represents the trust and respect we have earned for our vision to champion a model of aged care that places residents, their families and our teams at the heart of everything we do,” he said.
The group will create 30 new jobs across clinical care, hospitality, wellbeing, maintenance and administration. Current staff at the two homes will also transition into the MACG workforce, which now numbers over 1,200.
McPherson said the organisation’s immediate focus is on integration, digital transformation and continuity of care.
“We are proud to welcome Cheltenham Manor and Greenwood Manor into the MACG family, to continue their legacy of community and respect, and to integrate their talented and passionate teams with our own,” he said.
“Our immediate priority is to continue enhancing the lives of our residents and provide rewarding career paths for our dedicated team. Looking ahead, our purpose at MACG remains the same: we will lead with the values of family on which our organisation was founded. We will act with the best interests of our residents, their families and our communities at heart, and we will continue to invest in and embrace technology and innovation that enriches human connection.”
The homes, both located in Melbourne’s south-east, are expected to undergo upgrades as MACG rolls out its tech-based clinical programs designed to reduce paperwork and free up staff time for resident care.
Amicum, specialists in aged care and retirement living mergers and acquisitions, facilitated the transaction.
