Changes to AHCS Ownership

Australian Home Care Services (AHCS) and Multiple Sclerosis Limited (MSL) have determined that it is appropriate and timely for MSL to divest its ownership of AHCS to enable both organisations to realise their respective goals. To maximise opportunities and remain competitive in the disability and aged sector in which AHCS operates, requires AHCS to invest in growth and systems. For these reasons MSL have decided it is an appropriate time to exit ownership of AHCS.

Accordingly AHCS and MSL have completed a competitive process, managed by Deloitte, to determine a purchaser based on criteria agreed to by both the AHCS and MSL boards. Zenitas and MSL have entered into a definitive agreement in which AHCS will be acquired by Zenitas on 01/05/2018. Zenitas is a rapidly growing community – based healthcare organisation that offers primary care, allied health and home care services across Australia under a number of brands.

To ensure the best arrangements for MSL could be achieved, the AHCS and MSL boards establish a Strategic Review Committee who provided information and made recommendations on key decisions for the MSL Board to consider. MSL approved the sale. Clayton Utz, MSL’s preferred legal representatives, have maintained oversight and provided advice throughout the process.

No cash has been provided by MSL to AHCS during its history and over the years AHCS has contributed significant value to MSL. The funds received as well as retained assets by MSL from this sale will further support MSL in achieving its mission and strategic objectives. In recognition of the pride AHCS has in its association with MSL, Zenitas has also committed to a corporate sponsorship of MSL of $1M over five years.

For AHCS clients and funders there will be no change in how services are currently delivered or managed. Staff will continue to be employed by AHCS. It is business as usual for all parties.

AHCS will ensure Nationwide continues to grow and has put transition arrangements in place to ensure Nationwide can operate utilising the current shared services and systems until Nationwide can operate independently.

For Nationwide clients and staff it will be business as usual and MSL will continue to benefit from Nationwide’s services and value creation.

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