Radius Care settles acquisition of 23rd facility

RADIUS RESIDENTIAL CARE LIMITED
Level 4, 56 Parnell Road, Parnell, Auckland, New Zealand
Phone 09 304 1670 www.radiuscare.co.nz
Caring is our calling
4 November 2021
Radius Care settles acquisition of 23
rd
facility, Clare House
Radius Residential Care Limited (NZX:RAD) is pleased to announce that the
acquisition of Clare House, an integrated care facility and retirement village in
Waikiwi, Invercargill was settled on 1 November 2021. The $14.5m purchase
price was funded from the new ASB $62m debt facility.
Clare House adds 69 care beds, 18 serviced apartments and 7 villas to Radius
Care’s existing portfolio of 1,715 beds and 76 retirement village units at 22
properties between the Bay of Islands and Invercargill. A further unit will be
added at Clare House during the current financial year and an additional
adjoining residential property at 71 Durham Street is available for future
development.
Media and Investor Contact:
Brien Cree
Executive Chair and Managing Director
Phone: +64 021 955 769
Email: brien.cree@radiuscare.co.nz
About Radius Care
Radius Care was founded in 2003 and listed on NZX in December 2020. It
operates in the New Zealand aged care and retirement village sectors. It offers
the full range of accommodation and care options giving residents the ability to
access a continuum of care with facilities between the Bay of Islands and
Invercargill. Radius Care operates 23 aged care facilities, of which it owns eight
and leases 15. It also owns and operates three retirement villages. The company
employs over 1,500 people, including highly qualified healthcare staff who are
committed to providing the very best in nursing care. For more information visit
radiuscare.co.nz or check our Facebook page @RadiusCareNZ.