New Zealand Aged Care Services (NZACS) has agreed to join Heritage Lifecare, bringing together two of the country’s significant aged care portfolios.
The transaction will add NZACS’s 15 care homes and eight retirement villages to Heritage Lifecare’s portfolio. Heritage Lifecare has announced the combined business will comprise 55 care homes and 28 retirement villages, making Heritage New Zealand’s second-largest aged care provider.
MinterEllisonRuddWatts Special Counsel Lauren Archer led the firm’s team advising NZACS, alongside Partner John Conlan.
Lauren Archer says the transaction represents an important development for New Zealand’s aged care sector: “We are delighted to have supported NZACS on this significant transaction. Bringing NZACS into Heritage Lifecare creates a substantial national aged care platform and represents an important investment in the future of aged care in New Zealand.”
The deal agreement highlights continued transaction activity across New Zealand’s health and care sectors and remains subject to meeting conditions. It is expected to complete in the coming months.
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