Estia Health is an Australian aged care operator floated by Quadrant Private Equity in December 2014 when it was valued at $725 million.[1]
It operates 75 facilities across Australia and is listed on the Australian Securities Exchange.
History
It was founded by Peter Arvanitis.[2] He resigned in 2016.[3]
In 2018 it had the largest proportion of women in its executive team.[4] 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,[5] following the Australian Broadcasting Corporation produced a two-part documentary focusing on alleged neglect and abuse of older people.[6]
Estia Health was a public company traded on the Australian Securities Exchange until December 2023 when it was taken private by Bain Capital[7] for $551.3 million.[8]
Acquisitions
It acquired 4 residential aged care homes and two 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.[9]
See also
- Heritage Care
References
- James Dunn. Lessons for participating in private equity floats NAB, 16 June 2017, retrieved 20 May 2018^
- Jessica Gardner. Estia Health founder Peter Arvanitis defiant despite horror ASX debut The Sydney Morning Herald, 2014-12-05, retrieved 2024-08-01^
- 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^
- Australia's Prime Minister Announces Aged Care Royal Commission natlawreview.com, retrieved 2024-08-01^
- Australian care providers for aged hit by inquiry Financial Times, 17 September 2018, retrieved 2 November 2018^
- Bain Capital's $551 mln bid sends Estia Health shares to near 5-year high Reuters^
- Bain Capital's $551m bid sends Estia Health shares to 5-year high DealStreetAsia, retrieved 2024-05-26^
- Estia Health to acquire Premier Health Care assets with Thomson Geer's help Australasian Lawyer, 1 November 2022, retrieved 14 November 2022^