Green Light Signals New Growth Phase For Geneva Healthcare

Green Light Signals New Growth Phase For Geneva Healthcare

The Commerce Commission has given the green light on HealthCare of New Zealand Holdings’ 100% acquisition of Geneva Healthcare Limited.

HealthCare NZ has been a major provider of home support services for nearly 30 years, supporting over 20,000 New Zealanders; while Geneva Healthcare has been a leading force in the industry known for its creativity and innovative solutions.

“It is a great result for both our companies, now poised to create synergies that will enable better community healthcare for all New Zealanders and generate substantially higher value for our Funders through cost efficiencies”, says Josephine Wallis, Geneva Healthcare Chief Executive and Founder.

“It signals a new growth phase for our Geneva Family as we look forward to doing so much more, providing better healthcare solutions to benefit more clients, and creating a stronger platform for our staff to work from”, says Ms Wallis.

"HealthCare NZ sees the acquisition as adding scale that will enhance its capability to continue its drive to provide services in the most cost-effective way it can,” Jaimes Wood, HealthCare NZ Chief Executive.

It will be business as usual for both companies with no operational changes expected for at least 12 months as both spend time learning more about each other. All management positions and reporting lines will remain the same and Josephine Wallis will continue as CEO of Geneva Healthcare.

It is now anticipated that the settlement of the transaction will occur on 29 September 2017.

ENDS

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