Aug 18, 2017 Last Updated 2:35 PM, Aug 17, 2017

New Entry From the Editor :

Telstra cuts dividend outlook after disappointing FY performance

Telstra cuts dividend outlook …

AusBN - Telstra (ASX:TLS) has revealed its full-year (FY) profit dropped 33...

Contrasting fortunes for Origin and Woodside in FY results

Contrasting fortunes for Origi…

AusBN - Origin Energy has posted a full-year (FY) loss of AUS$2.2 billion a...

Report finds majority of top Australian firms ill-equipped for business in Asia

Report finds majority of top A…

AusBN - A report by think tank Asialink has found that a large majority of ...

WA rehab hospital in $20 million sale

modern hospital signAusBNAusBN - A private rehabilitation hospital in Western Australia has been sold to a New Zealand property trust for AUS$20 million.

Abbotsford Private Hopsital in West Leederville has been purchased by Vital Healthcare Property Trust, which will add a second Perth healthcare facility to its assets.

The 30-bed mental health hospital specialises in treatment for addiction, including drug and alcohol rehabilitation.

Vital also announced the $33 million purchase of Ormiston Hospital in Auckland.

Colliers International executive investment services Henry Vu facilitated the sale, which was acquired with an initial 25-year lease to private hospital operator Healthe Care Australia.

“The sale strengthens Healthe Care’s focus in WA where it also operates the Vital-owned Marian Centre in Wembley,” said Vu.

Vital’s purchase of Abbotsford is part of the property trust’s increased interest in WA, which has the highest proportion of the population with private healthcare insurance in the country.

Abbotsford is expected to generate strong synergies between the already

Chief executive of Vital’s manager David Carr said: “Abbotsford is expected to generate strong synergies between the already Vital owned and Healthe Care operated Marian Centre and is directly on strategy.”

@AusBNOnline

This Month's Issue

AusBN Vol3 Iss1

Subscribe

rgn web banner

abn web banner