Japara Scheme of Arrangement

The Japara Healthcare Board today unanimously recommended the Calvary proposal to shareholders which, if approved, will see Calvary acquire 100% of the Japara shares, at $1.40 a share, via a Scheme of Arrangement.

The Scheme implies an equity value of approximately $380 million. It is subject to Japara shareholders’ approval by the requisite majorities at the Scheme Meeting expected to be held in October 2021.

Martin Bowles, Calvary National CEO said: “Over the next few months, Japara will seek broad shareholder and court approval.

“While we still have a way to go, this is very encouraging and another step to further establish our integrated care model across residential, community and hospital services.

“Calvary is in an exciting phase of growth which includes playing our part in the future delivery of health, aged and community care services across Australia.

“Serving a larger community has long been an objective for our expansion across Calvary’s 135-year history in Australia. Growing our aged care portfolio will enable us to better serve the people for whom we already care, offer support to more people and be present with people in the times when they are most vulnerable.

“We look forward to working with the Japara team to combine the best of both organisations for the ultimate benefit of those in our care.”

Japara anticipates that a Scheme Booklet containing information relating to the Scheme, the reasons for the Japara Board’s recommendation, an Independent Expert’s Report and details of the Scheme Meeting will be dispatched to shareholders in September 2021.

Previous Communications:

7 July 2021 – Calvary and Japara enter due diligence