Estia Health (ASX:EHE) has announced the signing of a Scheme Implementation Agreement with an entity under the control of Bain Capital, LP.

The agreement outlines the acquisition of the total issued share capital of Estia Health.

Shareholders of Estia Health are set to receive a cash amount of A$3.20 for each share, which will be lessened by the amount of any allowed dividends paid.

It is anticipated that the implementation of the scheme will occur before the conclusion of 2023.

Estia Health is a health service provider specializing in aged care facilities and residential nursing homes.