Shares of Estia Health (ASX:EHE) surged as much as 9.9% to A$3.12, setting up for their best performance since June 7, provided present gains are maintained.

Estia Health, an aged-care provider, has announced a signed agreement for its acquisition by the American private equity firm Bain Capital in a deal amounting to A$826.8 million.

The proposed offer of A$3.20 per share presents a 25.5% premium to the stock’s closing price on June 6, before the proposition’s exposure.

As a result, shares reached their highest point since August 3.

Estia Health’s stock has been down around 37.2% this year as of the latest close.

Estia Health is an aged-care service provider, specializing in residential aged care homes, respite and dementia care.