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Zenitas accelerates acquisition of aged care services provider

Australia's Zenitas Healthcare Ltd. is acquiring the remaining 49% NexttCare Pty Ltd., an aged care services provider.

The $14.7 million consideration will be funded from Zenitas' debt facilities.

Zenitas was to acquire the stake in July 2019, after taking an initial 51% of NexttCare in July 2017.

CEO Justin Walter said the accelerated acquisition is driven by Zenitas' recent purchase of Australian Home Care Services.

The deal is expected to close in December.