Australia's Regis Healthcare hits over 8-yr high as co plans to acquire residential homes
20/09/2024 03:00
** Shares of Regis Healthcare REG.AX rise as much as 5% to
A$6.12, their highest since Feb 2, 2016
** Stock posts its third day of consecutive gains
** The aged-care home operator says it plans to acquire two
residential aged-care homes in Melbourne for A$35.5 mln ($24.15
mln)
** Says acquisition expected to be EPS-accretive in FY25
** Co says deal could result in potential cost savings
including procurement and reduced corporate costs
** YTD, stock has risen 88%, as at 0147 GMT, compared with
an 8.5% rise in the ASX 200 benchmark .AXJO
($1 = 1.4697 Australian dollars)
(Reporting by Sneha Kumar in Bengaluru)
((Sneha.Kumar@thomsonreuters.com;))
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