Japara Healthcare Limited
(ASX:JHC) has expanded into the Queensland market with the acquisition of the Profke residential aged care portfolio.
Japara Healthcare has executed contracts for the acquisition of the Profke residential aged care portfolio for a net acquisition price of $79.5 million.
The Profke portfolio is comprised of 587 beds across four aged care facilities in Queensland and New South Wales.
The acquisition will be funded through a combination of existing cash reserves and debt facilities. Settlement is expected on or around 1 December 2015.
Japara Healthcare recorded a net profit of $28.8 million for the financial year.
