RIP Japara: NFP Calvary takes over its assets

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The aged care and retirement village operator Japara is no more.

Calvary Health Care, which was founded in Australia in 1885 by the Sisters of the Little Company of Mary, as a Not For Profit, Catholic health care organisation, has announced Japara’s five retirement villages and 50 aged care homes now operate under the Calvary name.

Calvary CEO Martin Bowles told the Thursday SOURCE that Japara’s five villages fit into the Calvary model with the operator running six independent living complexes alongside some of its aged care homes.

“Together, we are one of Australia’s leading health, home and aged care providers with over 18,000 staff and volunteers across 14 Public and Private Hospitals, 72 Residential Care and Retirement Communities and a national network of 19 Community Care service centres,” Calvary said in a statement.

“Calvary now provides aged care services in Victoria, Queensland and Tasmania, in addition to our existing communities in New South Wales, ACT, NT and South Australia.”

Japara shareholders last month voted overwhelmingly in favour of supporting Calvary’s proposal to acquire 100% of its shares, at $1.40 a share – valuing Japara at $380 million. Japara’s shares hit a high of $3.40 in November 2015.