Healthscope transfers WA hospital lease to Bethesda Health Care
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The news: HMC Capital’s HealthCo Healthcare and Wellness REIT has reached an agreement to surrender Healthscope’s existing lease for the Mount Private Hospital to Bethesda Health Care, which has been guaranteed by the Western Australian government.
The context: HealthCo’s unlisted healthcare fund together with Healthscope and its receiver McGrath Nicol reached the agreement with not-for-profit private hospital operator Bethesda to commence its new long-term lease in Q1 FY27.
Alternative operators for the remaining 27 Healthscope hospitals have been granted a period of due diligence by the receiver, with transaction documentation being progressed to “provide for continuity of service and an orderly transition to the alternative operators”.
It was previously announced that executable new lease agreements had been reached with the other 10 Healthscope hospitals on a state-by-state basis with Healthe Care (Victoria), Acurio Health (NSW) and KNG Group (Queensland).
HealthCo stated it had “not received any formal proposal, proposed commercial terms or requests for assignment of the existing leases” for the proposed ‘PurposeCo’ model that would transition Healthscope to a not-for-profit model without breaking up the company.
What they said: “The agreement for the Mount, guaranteed by the WA State Government, represents an important step towards a clear resolution of the Healthscope situation,” said HMC Capital managing director, real estate, Sid Sharma.
“We appreciate the patience shown by our unitholders and remain focused on positioning the HCW platform for renewed growth and restoring normalised distribution settings for our unitholders”.
The source: ASX
