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Listed Zenitas acquires two home care providers in VIC and NSW

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The community-based health care provider has paid $4 million for 100% of the shares in Australian Home Care Services (ACHS), a VIC- and NSW-based home care provider, from Multiple Sclerosis Ltd.

ACHS has an expected FY19 gross revenue of $38 million and EBITDA of $2 million, and this is predicted to increase in both FY20 and FY21 – thanks mainly to demand from the 140,000 home care packages planned to be released by 2021-22, a jump of over 80,000 since 2012-13.

Zenitas is also targeting the expected 475,000 NDIS participants, buying Beleura Health Solutions, which runs two allied health clinics on Victoria’s Mornington Peninsula, for $2.4 million after it recorded a FY17 gross revenue of $2.3 million and EBITDA of $0.6 million.

The acquisitions will add another 1,302 carers and 4,109 clients to its portfolio – a solid investment when you look at the demand.