Estia outlines up to $148m virus hit

Aged care provider Estia Health expects a non-cash hit of up to $148 million on account of uncertainty from the virus.

The company said it would take a non-cash impairment of between $124 million and $148 million in its full-year results, mainly to write off goodwill from acquisitions.

Estia has homes in New South Wales, Queensland, South Australia and Victoria, and said occupancy had improved since May to 92.7 per cent on June 30 after coronavirus restrictions were eased, but

Aged care centres have had some of the toughest restrictions on people entering during the pandemic as elderly people are highly vulnerable to the virus.

This was demonstrated by the outbreak at the Newmarch House centre in Sydney, which claimed 19 residents.

Estia also said two employees in Victoria have tested positive for the virus.

These employees worked across three homes but did not work while showing symptoms, according to Estia.

Infection control measures were put in place immediately and the company is working with health authorities.

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