Third Age Health Services Limited (NZX: TAH) has announced the acquisition of a majority share of EastMed Doctors in East Auckland.
The modern and well-equipped clinic is located close to eight aged residential care facilities, including Ryman's Grace Joel Retirement Village.
The purchase price is $1.9 million, funded through Third Age Health’s ANZ loan facility, which is expected to be completed effective 1 October 2022.
The practice is expected to contribute approximately $3 million to group annual revenues and once integrated will contribute annualised earnings per share in the range of 2.5 cents to 3.5 cents in FY24.
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