Third Age Health settles acquisition of EastMed Doctors

Monday 3 October 2022

Third Age Health Services Limited (NZX: TAH) advises that further to our announcement on 1 September 2022 it has, effective today, settled the acquisition of a majority share of EastMed Doctors (“EastMed”) for $1.9 million, fully funded through Third Age Health’s ANZ loan facility.

CEO, Tony Wai says “The acquisition of EastMed Doctors in Saint Heliers marks a significant milestone for Third Age Health as this is an established large general practice ideally located in East Auckland which has a growing aged population. The practice is within easy reach of eight aged residential care facilities, including Ryman’s Grace Joel Retirement Village for whom Third Age Health has an existing relationship and has been providing general practice services to residents for some time.

We are really excited by the opportunities that EastMed provides to extend our services in the East Auckland region, among other things by its proximity to the seven aged care providers we don’t provide services to yet.”

The results of EastMed will be consolidated into the TAH Group effective from 3 October 2022.

Authorised for issue by:
Tony Wai
CEO

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Announcement PDF