The shift to user-pays aged-care by the Federal Government, one intended to cope with Australia's rapidly ageing population by moving the focus from nursing homes to aged care services at home, attracts a $1.2bn injection of funding into the carers workforce over five years.

As major participants rationalise the effects of the government’s plans, deals worth almost $1 billion are being discussed in a flurry of transactions expected this year.

Among them is Lend Lease whose $200 million-plus aged-care business is back on the market.

AMP is looking for an equity partner for $700m worth of aged-care operations. Bupa considered a potential buyer given their aspirations to manage public hospitals in partnership with the government.