Zenitas Healthcare acquires physio business

Company News

by Jessica Ellerm

Zenitas Healthcare Limited (ASX:ZNT) has announced it has entered into a binding agreement to acquire 100 per cent of Agewell Physiotherapy.

Agewell is a mobile physiotherapy provider servicing residential aged care facilities, retirement villages and New South Wales and Queensland communities.

Zenitas will pay $4.8 million for Agewell, funded entirely from cash reserves.

The healthcare operator, who currently holds 24 per cent of the market, will look to use the Agewell platform to help deliver its physiotherapy services nationally.

Zenitas Healthcare Limited (ASX:ZNT) closed flat on Friday at $1.19.

Jessica Ellerm

Finance News Network
Jessica joined FNN in April 2016 and presents the Australian Share Market Outlook, and reports on the morning's leading business stories. Alongside FNN Jessica is a fintech industry commentator, writing for her own blog and a number of international online publications.