Estia Health announced the execution of binding agreements to acquire four (4) residential aged care homes from the Premier Health Care Group (Premier). The Premier homes are located in Adelaide, South Australia and South East Queensland and align with Estia Health's existing operating clusters. The homes will add 409 resident places in high quality aged care homes, three of which are less than five years old.

The agreement is subject to regulatory approvals in relation to the transfer of resident places and is expected to complete by early December 2022. As part of the transaction and subject to certain conditions, Estia Health will also acquire two additional development sites owned by Premier which would be capable of delivering a further 160-179 resident places in Adelaide.