Regis Healthcare buys two aged care homes in $45m deal
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The news: Aged care operator Regis Healthcare has agreed to buy two residential aged care homes in Victoria for $45 million.
The numbers: Regis will buy 120-bed Ocean Mist in Torquay and 110-bed Drysdale Grove in Drysdale. The group said both homes have been built or extensively refurnished in the last eight years.
Regis is expected to assume a Refundable Accommodation Deposit liability of around $36 million with potential for further upside from increasing occupancy and room pricing.
The deal, which is expected to be earnings-per-share accretive in FY26, increases Regis' aged care portfolio to 74 homes or around 8,400 beds.
The transaction is expected to complete by 1 December.
What they said: "The acquisition strengthens our footprint in Victoria, extending our reach west of Melbourne into a rapidly growing regional area with increasing demand for aged care services," said Regis managing director and CEO Linda Mellors.
"Upon completion, Regis will have added 13 homes and more than 1,700 beds through acquisition over the past two years. We continue to actively pursue further strategic acquisitions that deliver long-term value for shareholders."
The source: ASX
