Sharechat Logo

Vital Healthcare extends buying spree with two Australian facilities worth A$27.6M

Wednesday 5th April 2017

Text too small?

Vital Healthcare Property Trust has acquired an aged-care facility and a hospital in Australia for A$27.6 million, extending the buying spree it embarked on since raising $160 million in a rights offer last July.

The company acquired the Grafton Aged Care facility in northern New South Wales with aged care partner, Hall & Prior, gaining a total of 83 beds in 43 rooms and two adjacent residential properties that can be used for expansion. Grafton was bought on an initial 20-year lease with Hall & Prior in a deal that settled on March 31, it said.

Vital said it has also simplified the ownership of Melbourne's Epworth Eastern Hospital with a six-year lease extension to 25 years. Vital built the hospital in 2005. Epworth is an Australian not-for-profit hospital operator based in the state of Victoria. That transaction also settled in March.

Separately the company said it settled the $33 million purchase of Ormiston Hospital in Flat Bush south of Auckland's CBD, one of two acquisitions announced in February along with the Abbotsford Private Hospital, a 30-bed private mental health hospital in Perth for A$20 million.

​The latest acquisitions add to two medical office buildings in Sydney and Melbourne purchased for A$55 million.

The units last traded at $2.06 and have gained about 2 percent this year.

 

 

 

(BusinessDesk)



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

ASB workers to strike as bank proposes an effective pay cut
Rising tides, sinking stocks: study explores cost of climate change
May 2nd Morning Report
AGL - Change in Senior Management
Devon Funds Morning Note - 01 May 2024
Rick Christie to step-aside as a non-executive director
CHI - New customer contract to upgrade Marsden Point
Synlait announces changes to Board of Directors
May 1st Morning Report
Devon Funds Morning Note - 30 April 2024