Estia acquires Sydney’s Kennedy Health Care – 959 beds

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Estia has won the bidding for the family owned Kennedy Health Care, paying a combination of cash paid out over nine months plus $50 million worth of Estia shares.

The purchase delivers Este 959 beds across eight facilities plus brownfield and Greenfield development opportunities.

Estia has committed to invest $88 million over the next five years refurbishing existing facilities.