U.K.'s BUPA Enters Aged Care Sector (Australia)
This article was originally published in PharmAsia News
Executive Summary
Australia's number three health insurer, BUPA Australia, announced plans on Oct. 3 to acquire controlling interest in DIAC Holdings. The deal is an attempt by BUPA, the company's United Kingdom-based parent, to penetrate the aged care market in Australia and New Zealand. DIAC Holdings controls DCA Aged care Group which is made up of Australia's Amity Group and Guardian Healthcare in New Zealand. Collectively the two are worth an estimated $1.225 billion. With the acquisition, BUPA will gain control over Amity and Guardian's 96 care homes which have 7,000 beds and a yearly turnover of $334 million. (Click here for more - May Require Free Registration