The Presbyterians in NSW have sold their aged care facilities to the Sydney Anglicare. This sale occurred in the wake of the Queensland Presbyterian Church being placed into receivership after that state’s Prescare aged care service plunged the church into dept.
An emergency fundraising campaign has prevented Queensland Theological College from losing its campus.
Anglicare Sydney and Presbyterian Aged Care NSW and ACT are in a period of due diligence for the Anglicans to acquire most of Presbyterian Aged Care’s property, assets and operations in NSW.
The sale includes Residential Aged Care, Retirement Villages and Home Care Services in the Sydney and New England areas.
“Presbyterian Aged Care has a long and proud history of outstanding Christian care. But the challenges of the sector have meant we needed to consider the future,” Olivia Wood, CEO of Presbyterian Aged Care, said in an official press release without directly referencing the Queensland situation. The changing economics of the aged care sector, leading to a “get big or get out” situation is enough of a driver without looking north.
Anglicare’s CEO, Simon Miller, sees the consolidation as part of the changing structure of aged care. “The entire aged care sector is facing significant headwinds. Presbyterian Aged Care is not immune, and there was a need to find a way of ensuring the excellent services they have provided for decades were able to continue, grow and thrive,” he said in a release when the announcement of the purchase was made in December.
Image: Presbyterian Pittwood village in Ashfield to become part of Anglicare