Australian private equity Adamantem buys into NZ aged-care operator Heritage Lifecare

Thu, 06 Apr 2017

By Paul McBeth April 6 (BusinessDesk) - Australian private equity firm Adamantem Capital has bought into Heritage Lifecare in a deal valuing the New Zealand retirement village and aged-care operator at $115 million. Wellington-based Heritage Lifecare operates 977 care beds and 312 living units across 19 sites with above average occupancy rates, it said in a statement. The New Zealand firm will use funds from the Australian firm to buy 10 of those sites as part of an acquisition pipeline Adamantem sees as open for further expansion. T...

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