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.
Community Living
Exclusive: Aveo to sell off its retirement villages in South Australia and Tasmania
Tony Randello, CEO of the nation’s leading retirement village provider, said the impending sale of its 16 retirement villages in South Australia and Tasmania “aligns with Aveo’s regular strategic review of opportunities across its portfolio”. The...
