Further divestment from Eldercare

The company says the sale of its New Plymouth Molly Ryan property is subject to due diligence, with settlement expected early next month.

CEO Alan Clarke says the sale is in line with the company's strategy of concentrating on health and medical services-based income streams.

"Completing this sale will allow us to concentrate our efforts on the operations of nursing homes and medical rehabilitation services."

"At our last annual meeting we signalled our move toward the wider healthcare market where we believe there are significant opportunities for ElderCare."

Mr Clarke says the company will reveal more about its move to become a listed healthcare and medical services company when it delivers its upcoming annual report.

Proceeds from the New Plymouth sale will be applied to reduce company debt.

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