Northwest increases Healthscope stake to 11.1%

The Canadian real estate investment trust which controls the Vital Healthcare Property Trust & its manager has increased its stake in Australian listed hospital operator Healthscope Ltd to 11.1%.

NorthWest Healthcare Properties REIT said on Tuesday it had added 1% of Healthscope’s voting shares, through onmarket buying, to the 10.1% it acquired in May under a forward derivative contract with Deutsche Bank AG’s Sydney branch.

Healthscope has a portfolio of 43 hospitals concentrated in large metropolitan centres throughout Australia.

Northwest chair Paul Dalla Lana & chief executive John Frey said Northwest & the Vital trust were interested in jointly acquiring Healthscope’s underlying hospital-related real estate, in line with their long-term strategy to invest in healthcare real estate assets in Australia & New Zealand, and with scope to introduce other capital partners.

NorthWest is an unincorporated, open-ended Canadian real estate investment trust which owns New Zealand company NorthWest Healthcare Properties Management Ltd, manager of the Vital Healthcare Property Trust, and holds 24% of Vital’s units.

Attribution: Company release.

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