Acquisition of Belrose Care by MercyCare Limited
On 29 July 2016, MercyCare Limited (MercyCare) announced it had acquired four residential aged care facilities and services from Belrose Care. The facilities, which are located in Joondalup, Kelmscott, Maddington and Rockingham, ultimately increase MercyCare’s resident numbers from 113 to 500.
The transaction successfully completed on 27 September 2016.
Azure Capital advised MercyCare on all aspects of the transaction including valuation and strategic advice, structuring and negotiation of the relevant transaction agreement.