Japara Healthcare Limited
(ASX:JHC) has purchased a metropolitan site in Melbourne for $8.3 million.
The site has been purchased for the planned development of a new circa $35 million 120-place aged care facility.
Chief Executive Officer Andre Sudholz said the acquisition supports the company’s strategy of developing high quality facilities to meet the future demand for aged care.
Settlement is expected to occur in April 2016. Japara Healthcare says it is on track to deliver an additional 906 aged care places by the end of FY19.
Japara Healthcare recorded a net profit of $28.83 million at 30 June 2015.
