Thursday 4th November 2021
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Radius Residential Care Limited (NZX: RAD ) is pleased to announce that the acquisition of Clare House, an integrated care facility and retirement village in Waikiwi, Invercargill was settled on 1 November 2021. The $14.5m purchase price was funded from the new ASB $62m debt facility.
Clare House adds 69 care beds, 18 serviced apartments and 7 villas to Radius Care’s existing portfolio of 1,715 beds and 76 retirement village units at 22 properties between the Bay of Islands and Invercargill. A further unit will be added at Clare House during the current financial year and an additional adjoining residential property at 71 Durham Street is available for future development.
About Radius Care
Radius Care was founded in 2003 and listed on NZX in December 2020. It operates in the New Zealand aged care and retirement village sectors. It offers the full range of accommodation and care options giving residents the ability to access a continuum of care with facilities between the Bay of Islands and Invercargill. Radius Care operates 23 aged care facilities, of which it owns eight and leases 15. It also owns and operates three retirement villages. The company employs over 1,500 people, including highly qualified healthcare staff who are committed to providing the very best in nursing care. For more information visit radiuscare.co.nz or check our Facebook page @RadiusCareNZ.
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