Radius Announces $19m Sale of Facility

20 September 2023


Radius Announces $19m Sale of Facility, Material Reduction in Debt Levels

Radius Care (NZX: RAD) has signed an agreement to sell the Arran Court facility, located in
Te Atatu, Auckland.

The sale is for 100% of the business, including the freehold property. The sale proceeds are
approximately $19.0m (net of sale costs), with settlement planned on 16 January 2024.

The sale is conditional on ASB approval. The pending transaction is also conditional on the
purchaser completing satisfactory due diligence and obtaining finance and regulatory approvals.
All conditions are due to be satisfied by 30 November 2023.

Brien Cree, Executive Chair, said “Our people at Arran Court have been an important part of the
Radius Care community since 2007. We will work closely with the purchaser to ensure a smooth
transition and continuity of the care standards our residents and their families expect”.

The sale proceeds will be applied to repay existing debt, representing significant progress in
meeting the goals of the debt management program (as outlined in Radius Care’s 2023 Annual
Report).

For further information, please contact
Andrew Peskett
Chief Executive Officer
Phone: +64 21 747 363
Email: andrew.peskett@radiuscare.co.nz

Jeremy Edmonds
Chief Financial Officer
Phone: +64 22 650 9354
Email: jeremy.edmonds@radiuscare.co.nz
ENDS


About Radius Care
Radius Residential Care Limited was founded in 2003 and operates in the New Zealand aged care
and retirement village sectors. It is a nationwide provider offering the full range of
accommodation and care options giving residents the ability to "age in place". Today, Radius Care
operates 24 aged care facilities, of which it owns 13 and leases 11. Four owned facilities also
include retirement villages and Radius Care’s online shop sells specialist assisted-living products.
The company employs over 1,900 people, including highly qualified healthcare staff who are
committed to providing the very best in nursing care. Radius Care listed on the NZX in December
2020. For more information visit radiuscare.co.nz or check out our Facebook page
@RadiusCareNZ.