Estia Health
(ASX:EHE) has acquired leading private aged care business Kennedy Health Care Group, comprising of 8 facilities and 959 operational places in Sydney and Wollongong.
This means Estia’s total operating places now increases to 5,690 by the end of FY2016.
Estia will fund the acquisition through a combination of existing debt facilities and the issuance of approximately $50 million in Estia shares.
The balance of the consideration will be paid in cash.
Estia Health reported a net loss of $22.52 million at 30 June 2015.
