Radius Residential Care Limited entered into an agreement to acquire the assets and business of Matamata Country Lodge along with three neighbouring properties from Matamata Country Lodge and others for NZD 17.1 million.

Radius Residential Care Limited (NZSE:RAD) entered into an agreement to acquire the assets and business of Matamata Country Lodge along with three neighbouring properties from Matamata Country Lodge and others for NZD 17.1 million on August 31, 2022. The acquisition is planned to be funded by a NZD10 million payment from debt facilities, NZD 2.1 million of vendor finance and the issue of NZD 5 million of RAD shares issued at the market price on completion. The team at Radius Care are looking forward to welcoming the Matamata Country Lodge residents and staff into the Radius family.

The acquisition of Matamata Country Lodge is conditional on confirmation of debt finance and receiving relevant regulatory approvals and is expected to settle in September 2022. As on September 28, 2022, Acquisition of the business and assets of Matamata Country Lodge is unconditional. Settlement is anticipated to take place on September 28, 2022.