A new healthcare investment fund, which will result in the creation of Ireland’s largest residential care group, has been launched this week by BlackBee Group.
The fund will initially seek to raise €250m to invest in the acquisition and development of state-of-the-art care homes, with the money being targeted from both institutional and professional private investors.
The investment will initially see the construction of 1,000 new state of the art single ensuite beds and the acquisition of 750 existing beds operating under a new brand, Aperee. Over 1,500 new jobs will be created, 1,000 existing jobs will be sustained and a further 800 will be supported, under these plans, during construction.
NEWS SITE CONSTRUCTION
A number of target sites and existing homes have already been identified and Aperee expects to acquire two to three homes before the end of 2019. Construction on new sites is set to commence in early 2020.
The group sees this as an investment that will set new care standards, offers transformative social impact, whilst simultaneously driving the economy.
AGING POPULATION
Ireland’s population currently has 637,000 over 65s and 67,000 over 85s. By 2040 it is estimated that this will increase to a staggering 1.2 million over 65s and 216,000 over 85s. Ireland has a current supply of approximately 30,000 residential beds but by 2040 the demand will need to increase to approximately 59,000.
The BlackBee Healthcare fund is due to open in September.
