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Australian public company From Wikipedia, the free encyclopedia
Estia Health is an Australian aged care operator floated by Quadrant Private Equity in December 2014 when it was valued at $725 million.[1]
Industry | Aged care provider |
---|---|
Founder | Peter Arvanitis |
Parent | Bain Capital |
Website | estiahealth |
It operates 69 facilities across Australia and is listed on the Australian Securities Exchange.
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]
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]