Calvary enters due diligence with Japara
7th June 2021
Calvary has entered confirmatory due diligence with Japara Healthcare Ltd following a decision by Japara’s Board to allow access for Calvary to develop a binding proposal the board can recommend to its shareholders.
The Revised Indicative Proposal proposes the acquisition of 100% of the shares by Calvary in Japara by Scheme of Arrangement at a cash price of $1.20 a share.
Martin Bowles, Calvary National CEO said:
“Calvary is in an exciting phase of growth.
“To further establish our integrated care model across residential, community and hospital services, we have been assessing several opportunities in the health, aged and community care sectors.
“Our plan is to better serve the people for whom we already care, to offer healing to more people and to be present with people in the times when they are most vulnerable.
“The resident-centric care and compassion which underpins Japara’s approach to aged care and the way the Japara teams go about their work is closely aligned with our own values. We share a common purpose in caring for others as if they were our own, focusing on the residents’ needs and respect for the individual.
“The Royal Commission into Aged Care highlighted a genuine need to create a better experience for aged care residents and their families. We believe the combination of the two companies can help achieve that better experience of care while benefiting the residents and employees of both organisations.
“We look forward to engaging further with Japara Healthcare about our offer.”
Media inquiries: Craig Badings 0413 946 703