Regis Healthcare Limited (ASX: REG) has finalized a binding deal to purchase CPSM Pty Ltd (CPSM) for a net consideration of AU$74.2 million, marking a significant stride in expanding their residential aged care assets. This acquisition encompasses five top-tier residential aged care homes in South-East Queensland, offering a collective accommodation of 644 beds, aligning seamlessly with Regis' overarching strategy to diversify its residential aged care portfolio with high-quality establishments.
CPSM's financial performance for FY23 reveals an operating revenue of AU$67 million and an underlying EBITDA of AU$13 million, affirming the financial strength and viability of the acquisition. The transaction, slated for completion by December 1, 2023, will be financed through Regis' existing debt facilities. Furthermore, the takeover anticipates assuming a RAD liability of approximately AU$151 million, cementing Regis' commitment to consolidating its presence in the aged care sector with strategic acquisitions.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
