Oceania trading profitably as it expands aged-care business
16 November 2015
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Oceania Healthcare CEO Earl Gasparich
Sophie Boot, BusinessDesk
Oceania Healthcare, the aged-care operator managed by Macquarie Group, is trading profitably and has no immediate need for more capital but will have to consider raising funds in the short-to-medium term.
Chief executive Earl Gasparich said Oceania, which had contemplated an initial public offering this year, has no current constraints on capital and its focus is on developing "key strategy sites." The company formed through the merger of ElderCare and QualCare in 2008 is building on its Lady Allum rest home site on Auckland's North Shore, and has brownfield sites in Auckland, Tauranga, Nelson and Christchurch Read more