Aevum (AVE)

Shares / Stock Code

AVE

Stock Exchange / Sharemarket

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Aevum (AVE) is a company primarily engaged in the operation, management and development of retirement villages and aged care facilities. Aevum was listed on the Australian Stock Exchange on 18th of November 2004. At present Aevum owns and operates twenty one senior living communities in Sydney, mid-North Coast, Southern Highlands of NSW, and Western Australia with a combined resident capacity of 2600 Aevum employs more than 320 dedicated team members. These communities are aimed at the resident funded sector of retirement living industry and include in excess of 2,100 retirement units and 200 aged care beds.

Aevum Limited provides five levels of care, independent living, assisted living, low care hostels, nursing homes, and respite/temporary care and it has two business segments in which it operates: retirement accommodation and aged care. The retirement segment represents resident funded retirement living accommodation consisting of independent living units and serviced apartments whereas the aged care segment focuses on commonwealth subsidized and accredited aged care services consisting of low care hostel accommodation and nursing homes.

Aevum acquired The Willows Retirement Village in Winston Hills, Sydney from the Salvation Army on 2nd of July, 2007 and it also acquired the Maybrook Manor Retirement Village situated in Cromer, Sydney on July 27, 2007. AVE aims on building quality, architecturally designed premises which they are proud to own in the long term.

Aevum History

Aevum's was started in 1868, with the establishment of the Hibernian Australasian Catholic Benefit Society in Ballarat, Victoria to aid Irish Catholics with funeral and sickness benefits. The NSW district, known as the Hibernian Australasian Catholic Benefit Society of New South Wales was founded in 1880. The Society changed its name to Hibernian Friendly Society (NSW) Limited in 1998.

The core business of the Company since its beginning was the development and operation of retirement villages and aged care facilities. In 2002 Hibernian was demutualised and in May 2004 it changed its name to Aevum Limited to better reflect its business focus. AEVUM is Latin for AGE and LIFE, which naturally fits with the company's objectives and values. Aevum feels proud of its heritage, continually builds on its past successes and is dedicated to reinvesting in the business and growing its level of services and care options available to provide seniors with quality retirement lifestyle.