TAH announces acquisition of Ponsonby Medical Centre

24 February 2022

Third Age Health announces acquisition of Ponsonby Medical Centre

Third Age Health Services Limited (NZX: TAH) is pleased to announce it has signed a Sale and
Purchase Agreement to acquire the assets and business of Ponsonby Medical Centre. The acquisition
is expected to be settled 31 March 2022.

Ponsonby Medical Centre is an established Cornerstone Accredited general practice serving people
living and working in Ponsonby, St Marys Bay, Freemans Bay and Grey Lynn and has been providing
comprehensive medical care to the central Auckland community for over 20 years.

The current GP owners will remain part of the clinical team, along with nursing and administrative
staff, and together they will continue to provide quality medical care to the approximately 4,000
patients enrolled in the practice.

Ponsonby Medical Centre is the second general practice purchase for Third Age Health in Auckland
following Belmont Medical Centre in late 2021. Along with Hawkes Bay Wellness this brings our
family of general practices to three and is part of the organisation’s strategy to provide sustainable
primary healthcare services for our aged residential care (ARC) partners across New Zealand.

CEO, Tony Wai says, “We are thrilled to be adding Ponsonby Medical Centre to our family of
practices as there is an experienced clinical team in place providing quality family healthcare to the
local community. This will also enable us to provide high quality healthcare for the growing number
of older people living in the central city area.”

“The integration of general practice into our operating model is key in helping us build capability and
resilience around workforce and enables us to provide continuity of care and a more comprehensive
service offering for our Aged Residential Care facility clients as well deliver quality care for the
general population enrolled with the practice.”
The acquisition is expected to contribute around $1 million dollars in annualised group revenues and
$0.13 million to $0.17 million in annualised earnings before interest and tax. With the acquisition
settling on the last day of this financial year, this contribution will not impact the group earnings
until the next financial year.
For more information, please contact investors@thirdagehealth.co.nz



Tony Wai
Chief Executive Officer

For more information, please contact:
Ruth Morse, Head of Communications, Marketing and Engagement – Third Age Health
+64 21 263 1415
ruthm@thirdagehealth.co.nz

About Third Age Health
Third Age Health is the leader in providing quality health care services for older people including those living in
retirement villages, private hospitals, secure dementia units as well as in communities across New Zealand. A
dedicated Third Age Health clinical team provides onsite clinics, rostered rounds and after hours on-call
healthcare services aimed at supporting the health and wellbeing of older people to improve quality of life. As
well as providing clinical services for over 50 aged care facilities throughout New Zealand, Third Age Health
owns several general practices providing primary healthcare to their local community.
www.thirdagehealth.co.nz