We’re proud to announce our acquisition of St Allisa care home in Christchurch, currently operated by Arvida and with the official handover on 30 May, further strengthening Radius Care’s national presence.

Radius Care has entered into an agreement to acquire the business and assets of the St Allisa care home in Christchurch for NZ$14.7 million.

The agreement is conditional only on usual regulatory approvals. Settlement is expected to take place on Friday, 30 May 2025. The acquisition includes a sale and leaseback of the land and buildings with Warehouse Storage Limited that would also be settled on 30 May 2025. The property will be sold for $13.6m and leased back to Radius Care for an initial term of 30 years with two 10-year rights of renewal. The balance of the acquisition price (NZ$1.1 million) will be funded from working capital. The transaction represents further execution of Radius Care’s growth strategy. St Allisa is a large-scale care home comprising 109 care beds, including hospital and dementia care.

“The acquisition of St Allisa aligns closely with Radius Care’s commitment to providing high-quality, high-acuity care across New Zealand. We’re proud to welcome the residents and staff of St Allisa into the Radius Care family,” said Brien Cree, Executive Chair and Founder.

CEO Andrew Peskett noted “This marks Radius Care’s 24th care home and further strengthens our presence in Christchurch. It’s a meaningful step in our growth strategy as a health services provider and reflects our focus on expansion through the acquisition of large, well-located facilities. With Radius Care’s industry leading EBITDAR per bed of NZ$27.9k p.a. the acquisition is expected to be earnings accretive in FY26 and provide significant earnings upside potential in the future”.