Estia Health is an Australian aged care operator floated by Quadrant Private Equity in December 2014 when it was valued at $725 million.[1]
| Parent | Quadrant Private Equity |
|---|
It operates 69 facilities across Australia and is listed on the Australian Securities Exchange.
The company lost about a sixth of its value in September 2018 when the government announced a public inquiry into misconduct in the aged care sector, following the Australian Broadcasting Corporation produced a two-part documentary focusing on alleged neglect and abuse of older people.[2]
It was founded by Peter Arvanitis. He resigned in 2016.[3]
In 2018 it had the largest proportion of women in its executive team.[4]
It acquired 4 residential aged care homes and 2 development sites worth more than $100m from Premier Health Care Group in 2022. They will add 409 resident places to their portfolio and two development sites could deliver a further 160-179.[5]
Estia Health was a public company traded on the Australian Securities Exchange until December 2023 when it was taken private by Bain Capital.[6]
See also edit
References edit
- ^ Dunn, James (16 June 2017). "Lessons for participating in private equity floats". NAB. Retrieved 20 May 2018.
- ^ "Australian care providers for aged hit by inquiry". Financial Times. 17 September 2018. Retrieved 2 November 2018.
- ^ "Estia Health founder Peter Arvanitis resigns as director". Australian Financial Review. 31 August 2016. Retrieved 2 November 2018.
- ^ "PepsiCo's top executive team becomes majority female 'by default'". Sydney Morning Herald. 11 October 2018. Retrieved 2 November 2018.
- ^ "Estia Health to acquire Premier Health Care assets with Thomson Geer's help". Australasian Lawyer. 1 November 2022. Retrieved 14 November 2022.
- ^ "Bain Capital's $551 mln bid sends Estia Health shares to near 5-year high". Reuters.