Estia Chairman Dr Gary Weiss increases his shares in the listed provider

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Last week, it was Japara that appeared to be in play – now Estia also seems to be attracting attention as the sector moves past Victoria’s lockdown restrictions towards the deadline for the Royal Commission’s Final Report.

Estia Chairman Dr Gary Weiss AM (pictured above) has purchased 30,000 shares at $1.3696 per share through Bivaru Superfund Pty Ltd of which he is a beneficiary.

The purchase brings his total investment in the provider to 78,312 shares – a 38% increase.

Estia first listed on the ASX in December 2014 at $4.78 a share – a value of over $1 billion.

Yesterday, it closed at $1.60 – a market capitalisation rate of just under $420 million.

However, its share price has bumped up around 20 cents in the last five days.

Aged care has attracted interest from private equity in recent years, but analysts warned us this year that any serious investors would not emerge until after the Commissioners delivered their final findings in February 2021.

The time to invest would appear to be now.


About Author

Lauren is the Editor at DCM Group and has guided its range of media including The Weekly SOURCE, The Daily RESOURCE and The Donaldson Sisters since 2016. With 13 years’ experience as a journalist, editor and commentator, Lauren is the only journalist to have attended every session of the Royal Commission into Aged Care Quality and Safety, producing 300 issues of the subscriber-only The Daily COMMISSION which offers exclusive insights and analysis of the issues surrounding the Royal Commission and the aged care sector.