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{{Short description|Australian public company}}
{{Infobox company
{{Infobox company
| name = Estia Health
| name = Estia Health
| logo =
| logo =
⚫
| industry = Aged care provider
| logo_caption =
| founder = Peter Arvanitis
| logo_alt =
⚫
| parent = [[Bain Capital]]
| type =
⚫
| website = {{URL|estiahealth.com}}
⚫
| industry =
| fate =
| predecessor = <!-- or: | predecessors = -->
| successor = <!-- or: | successors = -->
| founded = <!-- if known: {{Start date and age|YYYY|MM|DD}} in [[city]], country -->
| founder = <!-- or: | founders = -->
| defunct = <!-- {{End date|YYYY|MM|DD}} -->
| hq_location_city =
| hq_location_country =
| area_served = <!-- or: | areas_served = -->
| key_people =
| products =
| owner = <!-- or: | owners = -->
| num_employees =
| num_employees_year = <!-- Year of num_employees data (if known) -->
⚫
| parent = [[Quadrant Private Equity]]
⚫
| website = <!-- {{URL|example.com}} -->
}}
}}
'''Estia Health''' is an Australian aged care operator floated by [[Quadrant Private Equity]] in December 2014 when it was valued at $725 million.<ref>{{cite web|url=https://www.nabtrade.com.au/investor/insights/latest-news/news/2017/06/lessons_for_particip|title=Lessons for participating in private equity floats|date=16 June 2017|accessdate=20 May 2018|work=NAB|first=James|last=Dunn}}</ref>
'''Estia Health''' is an Australian aged care operator floated by [[Quadrant Private Equity]] in December 2014 when it was valued at $725 million.<ref>{{cite web|url=https://www.nabtrade.com.au/investor/insights/latest-news/news/2017/06/lessons_for_particip|title=Lessons for participating in private equity floats|date=16 June 2017|accessdate=20 May 2018|work=NAB|first=James|last=Dunn}}</ref>


It operates 75 facilities across Australia and is listed on the [[Australian Securities Exchange]].
It operates 69 facilities across Australia and is listed on the [[Australian Securities Exchange]]. Of 200 largest listed companies in Australia it has the largest the proportion of women in its executive team - six women out of nine positions.<ref>{{cite news |title=PepsiCo's top executive team becomes majority female 'by default' |url=https://www.smh.com.au/business/companies/pepsico-s-top-executive-team-becomes-majority-female-by-default-20181003-p507h7.html |accessdate=2 November 2018 |publisher=Sydney Morning Herald |date=11 October 2018}}</ref>


⚫
== History ==
It was founded by Peter Arvanitis. He resigned in 2016.<ref>{{cite news |title=Estia Health founder Peter Arvanitis resigns as director |url=https://www.afr.com/real-estate/estia-health-founder-peter-arvanitis-resigns-as-director-20160831-gr569p |accessdate=2 November 2018 |publisher=Australian Financial Review |date=31 August 2016}}</ref>
It was founded by Peter Arvanitis.<ref>{{Cite web |last=Gardner |first=Jessica |date=2014-12-05 |title=Estia Health founder Peter Arvanitis defiant despite horror ASX debut |url=https://www.smh.com.au/business/estia-health-founder-peter-arvanitis-defiant-despite-horror-asx-debut-20141205-1218wd.html |access-date=2024-08-01 |website=The Sydney Morning Herald |language=en}}</ref> He resigned in 2016.<ref>{{cite news |title=Estia Health founder Peter Arvanitis resigns as director |url=https://www.afr.com/real-estate/estia-health-founder-peter-arvanitis-resigns-as-director-20160831-gr569p |accessdate=2 November 2018 |publisher=Australian Financial Review |date=31 August 2016}}</ref>


The company lost about a sixth of its value in September 2018 when the government announced a public inquiry into misconduct in the aged care sector and the [[Australian Broadcasting Corporation]] produced a two-part documentary focusing on alleged neglect and abuse of older people.<ref>{{cite news |title=Australian care providers for aged hit by inquiry |url=https://www.ft.com/content/f42797b8-ba3a-11e8-94b2-17176fbf93f5?emailId=5b9f92452561700004e6494c |accessdate=2 November 2018 |publisher=Financial Times |date=17 September 2018}}</ref>
In 2018 it had the largest proportion of women in its executive team.<ref>{{cite news |date=11 October 2018 |title=PepsiCo's top executive team becomes majority female 'by default' |publisher=Sydney Morning Herald |url=https://www.smh.com.au/business/companies/pepsico-s-top-executive-team-becomes-majority-female-by-default-20181003-p507h7.html |accessdate=2 November 2018}}</ref> The company lost about a sixth of its value in September 2018 when the government announced a public inquiry into misconduct in the aged care sector,<ref>{{Cite web |title=Australia's Prime Minister Announces Aged Care Royal Commission |url=https://natlawreview.com/article/royal-commission-aged-care-quality-and-safety |access-date=2024-08-01 |website=natlawreview.com |language=en}}</ref> following the [[Australian Broadcasting Corporation]] produced a two-part documentary focusing on alleged neglect and abuse of older people.<ref>{{cite news |date=17 September 2018 |title=Australian care providers for aged hit by inquiry |url=https://www.ft.com/content/f42797b8-ba3a-11e8-94b2-17176fbf93f5?emailId=5b9f92452561700004e6494c |accessdate=2 November 2018 |publisher=Financial Times}}</ref>


Estia Health was a public company traded on the [[Australian Securities Exchange]] until December 2023 when it was taken private by [[Bain Capital]]<ref>{{cite news|url=https://www.reuters.com/markets/deals/bain-capitals-551-mln-bid-sends-estia-health-shares-near-5-year-high-2023-08-07/ |title=Bain Capital's $551 mln bid sends Estia Health shares to near 5-year high |publisher=[[Reuters]]}}</ref> for $551.3 million.<ref>{{Cite web |title=Bain Capital's $551m bid sends Estia Health shares to 5-year high |url=https://www.dealstreetasia.com/stories/bain-capital-estia-health-356606 |access-date=2024-05-26 |website=DealStreetAsia |language=en}}</ref>
⚫
== See also ==


== Acquisitions ==
⚫
* [[Heritage Care Pty Ltd]]
It acquired 4 residential aged care homes and two development sites worth more than $100m from Premier Health Care Group in 2022. They will add 409 resident places to their portfolio and two development sites could deliver a further 160-179.<ref>{{cite news |date=1 November 2022 |title=Estia Health to acquire Premier Health Care assets with Thomson Geer's help |url=https://www.thelawyermag.com/au/practice-areas/corporate-and-ma/estia-health-to-acquire-premier-health-care-assets-with-thomson-geers-help/425862 |access-date=14 November 2022 |publisher=Australasian Lawyer}}</ref>

== See also ==
⚫
* [[Heritage Care]]


== References ==
== References ==
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{{reflist}}
{{reflist}}


[[Category:Companies listed on the Australian Securities Exchange]]
[[Category:Companies formerly listed on the Australian Securities Exchange]]
[[Category:Aged care in Australia]]
[[Category:Aged care in Australia]]
[[Category:Companies based in Sydney]]
[[Category:Companies based in Sydney]]
[[Category:Health care companies of Australia]]
[[Category:Health care companies of Australia]]
[[Category:Bain Capital companies]]

Latest revision as of 10:44, 22 November 2024

Estia Health
IndustryAged care provider
FounderPeter Arvanitis
ParentBain Capital
Websiteestiahealth.com

Estia Health is an Australian aged care operator floated by Quadrant Private Equity in December 2014 when it was valued at $725 million.[1]

It operates 75 facilities across Australia and is listed on the Australian Securities Exchange.

History

[edit]

It was founded by Peter Arvanitis.[2] He resigned in 2016.[3]

In 2018 it had the largest proportion of women in its executive team.[4] The company lost about a sixth of its value in September 2018 when the government announced a public inquiry into misconduct in the aged care sector,[5] following the Australian Broadcasting Corporation produced a two-part documentary focusing on alleged neglect and abuse of older people.[6]

Estia Health was a public company traded on the Australian Securities Exchange until December 2023 when it was taken private by Bain Capital[7] for $551.3 million.[8]

Acquisitions

[edit]

It acquired 4 residential aged care homes and two development sites worth more than $100m from Premier Health Care Group in 2022. They will add 409 resident places to their portfolio and two development sites could deliver a further 160-179.[9]

See also

[edit]

References

[edit]
  1. ^ Dunn, James (16 June 2017). "Lessons for participating in private equity floats". NAB. Retrieved 20 May 2018.
  2. ^ Gardner, Jessica (2014-12-05). "Estia Health founder Peter Arvanitis defiant despite horror ASX debut". The Sydney Morning Herald. Retrieved 2024-08-01.
  3. ^ "Estia Health founder Peter Arvanitis resigns as director". Australian Financial Review. 31 August 2016. Retrieved 2 November 2018.
  4. ^ "PepsiCo's top executive team becomes majority female 'by default'". Sydney Morning Herald. 11 October 2018. Retrieved 2 November 2018.
  5. ^ "Australia's Prime Minister Announces Aged Care Royal Commission". natlawreview.com. Retrieved 2024-08-01.
  6. ^ "Australian care providers for aged hit by inquiry". Financial Times. 17 September 2018. Retrieved 2 November 2018.
  7. ^ "Bain Capital's $551 mln bid sends Estia Health shares to near 5-year high". Reuters.
  8. ^ "Bain Capital's $551m bid sends Estia Health shares to 5-year high". DealStreetAsia. Retrieved 2024-05-26.
  9. ^ "Estia Health to acquire Premier Health Care assets with Thomson Geer's help". Australasian Lawyer. 1 November 2022. Retrieved 14 November 2022.
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