The Bain Capital-backed Estia Health Limited (ASX:EHE) appears to be getting a run for its money in its efforts to buy Blue Cross Community Care Services Group Pty. Ltd. BlueCross Aged Care, with suggestions in the market that industry rival DPG Services Pty Limited (Opal HealthCare) is also in talks. It was previously owned by AMP Capital, a business now under the control of Dexus.

Opal has an interest in bolt-on acquisitions to extract synergies. Estia, which is subject to a buyout from Bain Capital, is known to have been looking at BlueCross for some time. BlueCross has been up for sale since 2021 when the divestment of a minority stake was first contemplated, and the asking price is believed to be $400 million.

More consolidation in the aged care space is expected in 2024, as companies look for scale following industry reforms that require better patient care. Elsewhere, there's now talk of up to 11 suitors circling the Tigerlily swimwear brand. Apparently, first round bids are due next week in a process run by Deloitte.

Tigerlily is owned by Crescent Capital. Sources in the market had signalled there were three serious players lining up for the business, so how many of the 11 groups eyeing the company turn out to be tyre-kickers remains to be seen.