Third Age Health acquires Cicada Health, expanding aged care services

Third Age Health Services Limited has announced the acquisition of a 70% stake in Cicada Health Limited, a provider of medical services to aged residential care facilities in the Bay of Plenty. This move is intended as a bolt-on to Third Age Health's existing Aged Residential Care (ARC) business.

The total consideration for the 70% stake is $875,000, prior to working capital adjustments. Of this amount, $218,750 will be deferred for 12 months. The acquisition is expected to be funded using the company's existing line of credit, with completion scheduled for 1 September 2025.

Third Age Health is New Zealand's sole specialized provider of general practice healthcare services for older people in retirement villages, private hospitals, secure dementia units, and communities. The company currently provides clinical services to 90 aged care facilities across New Zealand.