Bain Capital has secured the tentative backing of Estia Health’s board after increasing its takeover offer for the aged care provider by 6 per cent, valuing the company around $826.8 million.

Estia’s largest shareholder, Wilson Asset Management, described the increase on a proposal – from $3 per share to $3.20 – made in March as a “positive outcome” for investors. Estia shares rose 35¢ to $2.90, up nearly 14 per cent, on Wednesday, indicating some scepticism the offer will succeed.