Healthcare NZ pays $51.9M for rival Geneva Healthcare, posts drop in profit

Tue, 03 Apr 2018

By Paul McBeth April 3 (BusinessDesk) - Healthcare of New Zealand Holdings paid $51.9 million to buy rival Geneva Healthcare, giving the country's biggest provider of homecare support a bigger share of the Auckland market where it was under-represented. Wellington-based Healthcare NZ, which counts Quadrant Private Equity as a 40 percent shareholder, completed the acquisition on Sept. 29, funding the deal with a $40 million bank loan, financial statements lodged with the Companies Office show. The loan covenants include interest cover and...

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