G8 acquires home care provider as it expands support for families with complex needs
G8 Education Ltd. To announcement the acquisition of a home care specialist and an NDIS provider Leor as part of an agreement that will see the creation of a new specialist care division headed by Leor founder Andrea Christie-David and dedicated to serving families with complex needs.
“We are delighted that Leor is part of the G8 Education network and are delighted that Andrea is joining us in continuing to lead the Leor business,” said G8 Education CEO Gary Carroll.
“We believe there is a real growth opportunity in the home and specialty care markets and view this acquisition as an attractive adjacent opportunity for our business. ”
“Since we started providing services through NDIS, we have achieved positive outcomes for children with complex needs through our unique holistic early intervention model,” explained Ms. Christie-David.
“This exciting opportunity gives Leor the opportunity to expand our platform and provide services to families seeking tailored learning and NDIS specialist support, in their own homes, at times that are convenient for them.”
New specialist care division will provide tailor-made early intervention and support for people with disabilities
The new specialist care division will offer Leor’s early intervention and disability support model, tailored to the needs of each child, which includes a learning program incorporating referrals from healthcare professionals such as speech-language pathologists and physicians. occupational therapists.
Families who work irregular hours, or who live in a remote and regional part of Australia, where there are no accessible early learning services are also considered in Leor’s offering, who are both eligible for the program Child care subsidy.
Leor’s business model is now sufficiently positioned to adapt its offering to meet the growing demand for Home Care Services (IHC), which will be supported by expanding opportunities within the existing G8 family base. who have children with complex needs, but also through the large base of educators who will benefit from an extension of professional paths to enable them to participate in the IHC and NDIS environments and, in so doing, help meet the needs in Leor’s staff.
“This new partnership will allow us to expand our service offering, provide greater convenience and flexibility to families and team members, and new potential sources of revenue growth for the business,” said Mr. Carroll.
“I have enjoyed watching Leor grow since I first developed the concept, but I was embarrassed that the demand for our services has always exceeded the supply,” added Ms. Christie-David. .
“Becoming a member of the G8 Education network is the perfect opportunity for Leor to respond to this demand by accessing the scale and expertise of the G8”
Initial consideration of $ 2 million to pay for business with a neutral impact on profits
The G8 has agreed to pay $ 2 million upfront for the company, with an additional $ 7.5 million available in earn-outs over the three years from CY2022 to CY2024, bringing the total potential consideration to $ 9.5 million.
The acquisition will be financed from the Company’s existing cash reserves and is subject to the usual closing condition of an agreement of this nature.
The G8 are planning a modest initial investment in the ability to support the creation of the new specialist care division, after which it is expected to be self-financing with a neutral impact on earnings in FY2022.
“This acquisition is in line with our overarching goal of improving quality across the business and finding new and innovative solutions for families to meet their evolving needs,” said Mr. Carroll. as a conclusion.
To read the announcement, please click here.