Despite Japara Healthcare Limited (ASX: JHC) and Regis Healthcare Limited (ASX: REG) suffering share price falls since listing earlier this year, investors still think they can cash in on aged-care floats. Private equity group Quadrant floated Estia Health Limited (ASX: EHE) last Friday. The shares listed at $5.75 before falling 18% and recovering slightly to $4.80.
As usual, the only winner here seems to be Quadrant. Quadrant initially invested in Estia in October 2013 before greatly expanding the business in July 2014 through the acquisition of unlisted aged-care operators Padman and Cook Care.