Aged and disability care provider Annecto announces closure
An aged care and disability support service with thousands of clients has announced it will close in July.
Annecto Incorporated operates in 19 locations in Victoria, New South Wales, Queensland and the Australian Capital Territory.
It has branches in Melbourne, Sydney, Canberra, Mildura, Ballarat, Bacchus Marsh, Mornington, Dubbo and Kempsey.
In a statement released on Wednesday the charity said the decision was made due to "financial challenges".
"This decision was not made lightly," Annecto chair Colleen Furnaletto said.
The charity has more than 1,000 employees and 4,400 clients, according to its 2024 report.
The report shows the charity had revenue of $85.9 million in the 2023-24 financial year and expenses totalling $84.9m.
"The control of our labour costs combined with a healthy growth in our revenue led Annecto to report a net surplus result of $993,000 for the 2023/24 financial year," the report said.
Annecto said it would work with the Department of Health, Disability and Ageing, the National Disability Insurance Agency and the Department of Veterans' Affairs to transition its clients to other providers.
The Department of Health, Disability and Ageing has been contacted for comment.
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