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New Zealand: Vital acquires Eden Rehabilitation Hospital

Vital Healthcare Property Trust, the only NZSX-listed healthcare property fund, has acquired Eden Rehabilitation Hospital in Cooroy, Queensland for A$23.8 million (US$17.9 million).

Eden is a 48 bed private inpatient rehabilitation hospital and medical centre located in Cooroy, approximately 25 minutes inland from Noosa in Queensland. It has provided rehabilitation and medical care to Sunshine Coast residents for more than 15 years.

Vital has agreed to a new 20-year lease with Healthe Care, Australia’s third largest corporate private hospital operator and pan-Asian healthcare services group. The group says that the transaction builds further on Vital’s strategy to acquire private hospitals with long term leases to market leading operators with embedded growth potential.

“The Eden acquisition further reinforces Vital’s commitment to its scale and diversification strategy while working alongside our tenant partners to support their own long term growth aspirations,” said CEO David Carr.

The acquisition settled on 8 December.
Posted on: 12/12/2017 UTC+08:00


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