Vital Healthcare's $160 million purchase of twelve Australian medical related buildings has been approved.Investors of Essential Healthcare Trust in Australia voted in favour of selling its assets to NZX-listed Vital Healthcare.The properties are 99.9% oc
Vital Healthcare’s $160 million purchase of twelve Australian medical related buildings has been approved.
Investors of Essential Healthcare Trust in Australia voted in favour of selling its assets to NZX-listed Vital Healthcare.
The properties are 99.9% occupied and have an average lease term of 15.4 years.
The properties include 258-bed Allamanda Private Hospital and day surgery Allamanda Surgicentre on the Gold Coast, 101-bed Lingard Private Hospital n Newcastle, 60 bed Maitland Private Hospital, 78-bed psychiatric hospital Palm Beach Currumbin clinic.
Other acquisitions are North West Private Hospital in Tasmania, 49-bed psychiatric Belmont Private Hospital in Brisbane, 116-bed South Eastern Private Hospital in Melbourne, 72-bed Toronto Private Hospital in Sydney, 52-bed Dubbo Private Hospital, Brockway House in Gold Coast and the Melbourne Pathology Building.
Vital Healthcare’s manager’s chairman Bill Thurston said the company was pleased.
“This is the start of an exciting period of growth for the Trust and its unitholders and we look forward to a successful capital raising to help it happen.”
Its shares were trading at $1.12 each at press time.
