Vital Healthcare’s parent makes new Australian investment

The owner of the Vital Healthcare Property Trust’s manager, NorthWest Healthcare Properties REIT, has acquired a 10% interest in Australian private hospital operator Healthscope Ltd.

NorthWest, based in Toronto, Canada, said yesterday it had bought the stake for $A2.39/share by way of a derivative with Deutsche Bank AG’s Sydney branch.

Healthscope has a portfolio of 45 hospitals concentrated in large metropolitan centres throughout Australia. NorthWest said in a release: “An acquisition of Healthscope’s underlying hospital-related real estate is of interest to NorthWest & Vital Healthcare in line with their long-term strategy to invest in healthcare real estate assets in the Australasian market. NorthWest & Vital currently intend to pursue any potential Healthscope real estate acquisition jointly, with scope to introduce other capital partners as appropriate.”

The NorthWest group has interests in a diversified portfolio of 149 properties in Canada, Brazil, Germany, Australia & New Zealand.

Attribution: Company release.

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