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Third Age Health Expands Aged Residential Care Services With Hub Aged Care Acquisition

Third Age Health Services Limited (NZX: TAH) is pleased to confirm the acquisition of a 70% interest in Hub Aged Care, a Wellington-based practice specialising in medical services for aged residential care. Completed on 1 April 2024, this move supports Third Age Health's strategy to enhance healthcare services for the elderly throughout New Zealand.

The acquisition allows Third Age Health to extend its reach and service commitment on a national scale. It also includes the continuation of a key general practitioner from Hub Aged Care, Dr Balram Dhillon, as a co-owner with a 30% stake, ensuring the retention of invaluable expertise and continuity of care.

Hub Aged Care, established in October 2020 by Dr Balram Dhillon and his team, has successfully grown to service 9 aged residential care facilities. This growth aligns with Third Age Health's objectives of providing accessible, high-quality care to the elderly across New Zealand as well as providing nationally consistent health service models.

Working together, the aim is to look for ways to refine clinical operations and establish new ways of working which include a ‘teaming’ approach to meet patient demand whilst at the same time ensuring clinicians are well supported so the practice continues to thrive.

Tony Wai, CEO of Third Age Health, commented: “We are pleased with this acquisition, which aligns with our goal to offer comprehensive healthcare to people as they age, across New Zealand. Hub Aged Care’s approach and services complement our own, and we look forward to integrating their operations into our wider network.”

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Dr Balram Dhillon remarked: “Joining Third Age Health provides us with a broader platform to enhance our care for the elderly. This partnership allows us to leverage Third Age Health’s resources, quality systems and network, helping us to reach and serve a wider community.”

This acquisition signals Third Age Health's commitment to leading in the provision of aged residential care services, ensuring the elderly have access to quality healthcare services wherever they are in the country.

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