AUCKLAND: Aldwins House Limited (AHL), has completed its acquisition of the Aldwins House aged care facility in Christchurch from Teltower Limited (Vendor).
To fund the acquisition AHL drew down the $13 million of debt facilities as outlined in our recent notice of meeting. No additional shares were issued in respect of the acquisition.
PHL now owns and operates four aged care facilities in New Zealand. With occupancy at Aldwins House now sitting at 87 residents, all four facilities are expected to be profitable for the 2023 financial year.