Vital Healthcare Property Trust settled its $A30.3 million purchase of a private mental health hospital in Sydney, The Hills Clinic, on 31 July.
The Hills will be run on a 30-year lease by Healthe Care Australia Pty Ltd, Australia’s third largest corporate private hospital operator and pan-Asian healthcare services group, now owned by the Singapore-based Luye Medical Group Pte Ltd.
Vital chief executive David Carr said when he announced the acquisition in June: “The Hills Clinic is Vital’s fifth mental health hospital in Australia and its first in New South Wales and directly supports our scale & diversification strategy. The Hills site has expansion capability, with potential for an additional 24 beds, which fits nicely with Vital’s philosophy of supporting its operating partners as population growth & wider demand for mental health services increases over time”.
13 June 2017: Vital buys another Sydney hospital
Attribution: Company release.