Radius Care expands with acquisition of 109 bed care home

30 April 2025

Radius Care expands with acquisition of 109 bed care home
Radius Residential Care Limited (NZX: RAD) (Radius Care) has entered into an
agreement to acquire the business and assets of the St Allisa care home in
Christchurch for NZ$14.7 million. The agreement is conditional only on usual
regulatory approvals. Settlement is expected to take place on Friday 30 May 2025.
The acquisition includes a sale and leaseback of the land and buildings with
Warehouse Storage Limited that would also be settled on 30 May 2025. The property
will be sold for $13.6m and leased back to Radius Care for an initial term of 30 years
with two 10-year rights of renewal. The balance of the acquisition price (NZ$1.1
million) will be funded from working capital.
The transaction represents further execution of Radius Care’s growth strategy. St
Allisa is a large-scale care home comprising 109 care beds including hospital and
dementia care. “The acquisition of St Allisa aligns closely with Radius Care’s
commitment to providing high-quality, high-acuity care across New Zealand. We’re
proud to welcome the residents and staff of St Allisa into the Radius Care family,”
said Brien Cree, Executive Chair and Founder.
CEO Andrew Peskett noted “This marks Radius Care’s 24th care home and further
strengthens our presence in Christchurch. It’s a meaningful step in our growth
strategy as a health services provider and reflects our focus on expansion through
the acquisition of large, well-located facilities. With Radius Care’s industry leading
EBITDAR per bed of NZ$27.9k p.a. the acquisition is expected to be earnings
accretive in FY26 and provide significant earnings upside potential in the future”.
ENDS
Media and Investor Contacts
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


About Radius Care
Radius Residential Care Limited was founded in 2003 and listed on the NZX in December
2020. Radius Care provides essential healthcare services to elderly New Zealanders, offering
the full range of accommodation and care options in communities throughout the country.
Today, Radius Care operates 23 aged care facilities, of which it owns 12 and leases 11. Four of
the owned facilities also include retirement villages and Radius Care’s online shop sells
specialist assisted-living products. The company employs over 1,700 people, including highly
qualified healthcare staff who are committed to providing the very best in nursing care, and
has expanded its services, establishing RConnect, a Nurse and Carer bureau and Home Care
provider. A 51% holding in Cibus Catering was acquired in October 2024. Cibus provides menu
planning and nutrition management services to the aged care sector, as well as full-service
kitchen and food management to 25 care homes across New Zealand, including ten Radius
Care sites. For more information visit radiuscare.co.nz or check out our Facebook page
@RadiusCareNZ.