Estia Health Limited
(ASX:EHE) has flagged plans to develop more than 500 extra aged care beds by the end of FY19 through a strategic partnership.
The residential aged care operator has entered into an agreement with privately owned retirement village company Living Choice Australia Limited.
The first two new aged care facility developments have been slated for the Sunshine Coast in Queensland.
CEO Paul Gregersen says Queensland is an increasingly important market and securing two facilities on the Sunshine Coast represents an attractive proposition.
Estia Health reported a net loss of $32.79 million in the first half of the 2015 financial year.
