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Estia Health buys Kennedy Health Care

Estia Health buys Kennedy Health Care


Two international firms have advised on the sale of Kennedy Health Care Group to aged care provider Estia Health.

Firms: King & Wood Mallesons (Estia Health); Herbert Smith Freehills (Kennedy Health Care)

Deal: Estia Health acquired Kennedy Health Care

Value: $50 million

Area: M&A   

Key players: The KWM team was led by partner Jason Watts (pictured), supported by solicitor Jennifer Cheung. Partner Yuen-Yee Cho advised on the financing side of the deal, with partner Chris Wheeler advising on property and regulatory matters and partner Tim Sherman providing tax advice.

Deal significance: Kennedy Health Care Group comprises eight facilities and 959 aged care beds. The acquisition will take Estia’s number of beds to 5,690 across 66 facilities by the end of 2016.

The deal will be funded through a combination of existing debt and the issue of approximately $50 million in Estia shares. The stock component represents a total of 6.3 million shares at $7.54 per share, which will be issued to the Kennedy family.

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