Battered aged care stocks wobble on âdisjointedâ reform plan
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A government pledge of close to half a billion dollars to launch an overhaul of the aged care sector has failed to rally the share prices of ASX-listed operators, with analysts warning future funding remains murky after the royal commission revelations.
Shares in Japara Healthcare, Estia Health and Regis Health Care all slid last week after the aged care royal commissionâs final 2000 page report was released. The three companies opened lower on Monday before recovering slightly as the broader market rallied. Japara finished the session down 3.9 per cent to 74¢, while Estia gained 1.5 per cent to $1.99 and Regis was up 3.3 per cent to $2.02.
Battered aged care stocks wobble on 'disjointed' reform plan theage.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theage.com.au Daily Mail and Mail on Sunday newspapers.
ASX aged care shares in focus after final results of Royal Commission released
Marc Sidarous | March 1, 2021 5:35pm |
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Regis Healthcare Ltd(ASX: REG) share prices are mixed today after the Australian government’s Royal Commission into Aged Care Quality and Safety delivered its final report.
Estia shares closed 7 cents lower to finish a $2.07. Japara closed the day 4.77% higher to finish at 81 cents per share. Regis shares closed 0.25% higher to end the day at $1.98.
All 3 ASX shares experienced a fall in the half-hour before closing – while the Prime Minister was speaking on the report.
Key points and recommendations
The
Aged Care Act 1997 should be repealed and replaced with a new Act to come into force by no later than 1 July 2023.
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