unding and guarantees provided by the Diocese | My Assignment Tutor

On the back of this funding and guarantees provided by the Diocese,GR8Kare was able to secure additional loans from the bank. This allowedGR8Kare to purchase its first residential aged-care facility in SydneyThe company was established as a company limited by guarantee, withmembers providing a guarantee of $50 each, should the business fail. Inorder to improve the financial viability of the company, the Dioceseprovided $1 million of initial capital, plus loans and financial guarantees fora further S10 million. This initial sum has grown substantially since thecompany’s incorporation, as opportunities to expand have presentedthemselves. In return, the constitution of the company provides the Diocesewith the right to appoint up to five directors to the board. There are currentlyseven directors, including yourself. The constitution restricts the number ofdirectors to a total of nine.Since it was founded, GR8Kare has grown from its original facility and nowoperates 20 facilities, with over 3,000 aged-care beds, primarily located inmetropolitan areas across the eastern states of Australia, GRS Kare’s headoffice is located in North Sydney.GR8Kare’s strategy focuses on:• providing well-located, high-quality facilities:• targeting high-value segments of the market through careful selectionof facility locations;• co-locating facilities in areas with an active church;Antes. providing a broad suite of services, including extra services such asgourmet food, hairdressing and beauty spas:5- 202.• portfolio optimisation and expansion capability, and• utilisation of parishioners’ skills, abilities andcontacts.The company has experienced consistently strong growth, with a history ofsound operating performance, characterised by significant earnings growth,particularly over the past five years. (This growth has been underpinned bypremium services offering to clients, optimising entitlements to governmentfunding, a strong property purchase and development program and targetedacquisition activities, as well as a strong focus on sound financialmanagement through well-managed procurement strategies and effectivelabour management practices. These have delivered operational efficienciesto the business.Growthunclepsky


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