Why it matters: Estia is one of the largest aged care operators in Australia
Regulatory scrutiny has depressed share prices, bringing private equity interest
Bain made an offer for Estia in March, and returned in June with a higher bid
Private equity group Bain Capital has won its five-month pursuit of aged care home operator Estia Health, after its $838 million offer was endorsed by the target’s board.
Estia, which operates 73 homes across Victoria, South Australia, New South Wales and Queensland, aims to be on the front foot in an industry set to undergo further consolidation.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
