Estia Health

Estia Health

Industry	Aged care provider
Founder	Peter Arvanitis
Parent	Bain Capital
Website	estiahealth.com

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

1. Dunn, James (16 June 2017). "Lessons for participating in private equity floats". NAB. Retrieved 20 May 2018.
2. Gardner, Jessica (2014-12-05). "Estia Health founder Peter Arvanitis defiant despite horror ASX debut". The Sydney Morning Herald. Retrieved 2024-08-01.
3. "Estia Health founder Peter Arvanitis resigns as director". Australian Financial Review. 31 August 2016. Retrieved 2 November 2018.
4. "PepsiCo's top executive team becomes majority female 'by default'". Sydney Morning Herald. 11 October 2018. Retrieved 2 November 2018.
5. "Australia's Prime Minister Announces Aged Care Royal Commission". natlawreview.com. Retrieved 2024-08-01.
6. "Australian care providers for aged hit by inquiry". Financial Times. 17 September 2018. Retrieved 2 November 2018.
7. "Bain Capital's $551 mln bid sends Estia Health shares to near 5-year high". Reuters.
8. "Bain Capital's $551m bid sends Estia Health shares to 5-year high". DealStreetAsia. Retrieved 2024-05-26.
9. "Estia Health to acquire Premier Health Care assets with Thomson Geer's help". Australasian Lawyer. 1 November 2022. Retrieved 14 November 2022.