Aveo Group

Aveo Group is an Australian company, and a leading owner, operator and manager of over 90 retirement and aged care communities across Australia. The retirement communities are located in Queensland, New South Wales, SA, Victoria and Tasmania, and as of 2021, Aveo provides senior living choices for over 12,000 residents.

Aveo Group
TypePrivate
IndustryRetirement, Aged Care
Founded1970
Key people
Tony Randello [Chief Executive Officer]
Natalie Patterson [Chief Operating Officer]
ProductsIndependent Living, Assisted Living, Freedom Aged Care and Respite Care.
Number of employees
2000 (November 2021)
Websitewww.aveo.com.au

The head office is located in Sydney, with corporate offices in Brisbane and Melbourne. Aveo is owned by Brookfield Asset Management.[1]

In November 2019 shareholders approved a takeover offer by Brookfield Asset Management Inc.[2] and Aveo is delisted from the ASX.[3]

Brisbane's first integrated retirement living community, Aveo Newstead, won the Nettletontribe Award for Design Award at the 2018 Property Council's Retirement Living Awards.[4]

In 2017, a class action was lodged against Aveo for its resident contracts involving unconscionable conduct and misleading conduct.[5] The class action attracted publicity when the lead lawyer was accused of misleading the residents[6][7] and the law firm running the class action was ordered to remove their ads promoting the class action.[8] It was the first-ever case where an amicus was appointed over an opt-out notice.[9] The court-appointed barrister advised clients not to join the class action.[10]

Aveo vigorously fought the allegations.[11][12]

References
  1. "Aveo acceptr $1.3b Brookfield bid". August 14, 2019.
  2. Bleby, Michael (6 November 2019). "Brookfield takeover of Aveo proceeds to court approval". Australian Financial Review. Retrieved 9 December 2020.
  3. Johanson, Simon (6 November 2019). "Aveo set to exit ASX after investors endorse $1.27b Brookfield bid". The Sydney Morning Herald. Retrieved 9 December 2020.
  4. "National Retirement Living Awards 2018". www.propertycouncil.com.au. 30 November 2018. Retrieved 9 December 2020.
  5. "Levitt Robinson lodges Class action against Aveo". Australian Financial Review. 2017-09-12. Retrieved 2022-11-14.
  6. "Fresh calls for scrutiny over Stewart Levitt's practicing certificate". Levitt Robinson Classless Actions. 2022-07-07. Retrieved 2022-11-14.
  7. "Levitt's "false and misleading statements" that bullied the elderly". Levitt Robinson Classless Actions. 2022-10-16. Retrieved 2022-11-14.
  8. Bolza, Miklos (2021-07-23). "Law firm Levitt Robinson agrees to take down Google ads for Aveo class action". Lawyerly. Retrieved 2022-11-14.
  9. Cameronne, Cindy (2022-06-02). "Aveo class action judge appoints first-ever amicus in fight over opt-out notice". Lawyerly. Retrieved 2022-11-14.
  10. "Barrister advises Levitt Robinson victims to flee sinking ship -". Levitt Robinson Classless Actions. 2022-08-21. Retrieved 2022-11-14.
  11. Caulfield, Christine (2022-06-01). "Aveo slams 'extraordinary' and 'unprecedented' funding order in class action". Lawyerly. Retrieved 2022-11-14.
  12. "Aveo hits back: defends resident contracts in class action case". Australian Financial Review. 2017-11-24. Retrieved 2022-11-14.
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