RETIREES BETTER OFF AFTER EUREKA DEAL
Written on the 8 June 2016
EUREKA Group Holdings (ASX:EGH) has partnered with Queensland's largest not-for-profit provider of community care providing retirees at 14 Queensland villages with new services and support.
Shares in the Gold Coast retirement village operator rose to a high of 79c this morning on the back of the announcement of the partnership with Blue Care. As of midday, shares are trading around 2 per cent higher than this morning's opening price, sitting at 76c.
Eureka chair Robin Levison (pictured) says the partnership with Blue Care will support residents to live independently at their chosen retirement home for as long as possible.
He says they will be able to receive support from Blue Care who are able to assist in accessing government funding for care services.
"(It) is of great benefit to residents at our villages - they will be able to remain in their home, in a supported community and receive care tailored to their needs allowing them to stay with Eureka for an extended duration," says Levison.
Eureka says while retirees are still able to choose their provider of choice, the partnership provides convenient and ongoing access to a trusted provider.
The partnership focuses on Eureka's Queensland villages with other areas of Australia expected to roll out in the future.
Blue Care executive director Robyn Batten says the partnership aims to provide residents at affordable housing complexes with easy and convenient access to home care and support services.
"The approach involves having Blue Care staff onsite for blocks of time, based on demand," says Batten.
"Residents at Eureka's villages will have access to a range of services to complement their lifestyle and promote greater health and wellbeing."
Eureka currently has 29 villages Australia-wide with nearly 1900 residents.
The company acquired 18 villages over the past two years and is targeting another eight to 10 villages in the next 12 months.