Estia Health Limited (ASX:EHE) entered into a binding agreement to acquire residential aged care homes in Benalla of Royal Freemasons Ltd from Royal Freemasons Ltd. on August 1, 2023. The total net cash consideration for the combine transactions are expected to total approximately AUD 17.3 million (excluding stamp duty and transaction costs). The final consideration will depend on RAD balances, which are expected to be approximately AUD 35.8 million, and employee obligations at completion. In a related transaction, Estia Health Limited entered into a binding agreement to acquire residential aged care homes in Kangaroo Flat of Royal Freemasons Ltd. The transactions will be funded from the Estia Health?s existing debt facilities. In connection with the acquisitions, Estia Health will be consolidating parts of its existing operations in Bendigo and Benalla. This will result in the relocation of residents and employees from the existing. The transaction is subject to customary closing conditions that are currently expected to settle in early October 2023.

Estia Health Limited (ASX:EHE) completed the acquisition of residential aged care homes in Benalla of Royal Freemasons Ltd from Royal Freemasons Ltd. on October 3, 2023.