Radius Care has announced an equity raising of up to $50 million to fund strategic growth initiatives.
Radius Residential Care Limited announced its plans to raise up to $50 million to fund strategic growth initiatives. Radius Care is purchasing the land and buildings of four strategically important aged care facilities operated (but not owned) by Radius Care. The purchase of these facilities increases Radius Care’s brownfield development pipeline and gives Radius Care ownership of the aged care facilities adjacent to two co-located retirement villages that it owns and operates.
The four facilities are:
- Taupaki Gardens in Kumeu, Auckland
- Windsor Court in Ohaupo, Waikato
- Heatherlea in New Plymouth
- Elloughton Gardens in Timaru.
“We are pleased to demonstrate strong progress against our strategy that we communicated to the market in our December 2020 Listing Profile, with this capital raising providing the funds for attractive value-enhancing growth initiatives," said Brien Cree, Radius Care’s Executive Chairman.
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