Hot on the heels of the 900 bed Padman Health Care acquisition, Estia Health has purchased the 10 care facility operations of Cook Care, located across NSW and QLD. Backed by Quadrant Private Equity, Estia is reported to have paid Christine and Francis Cook about $200 million for Cook Care. The business was established 30 years ago by the Cook family.
Marcus Darville from Quadrant Private Equity stated at our March LEADERS SUMMIT that he had a $700 million fund available to invest in the village and care sector. The financial markets are forecasting that Quadrant will list Estia over the next 12 months for approximately $1 billion given the 30 times earnings price that Japara aged care achieved when it listed last month.
Exclusive: Retirement by Moran finalises purchase of huge Wesley Taylor Village on Sydney’s Northern Beaches and reveals development vision
Managing Director Sally Taylor said Retirement by Moran can now proceed with plans to redevelop the whole of the 9,234sqm site of The Wesley Mission’s Wesley Taylor Village and Residential Aged Care home adjacent to the beach at Narrabeen. They took...