Vital Healthcare Property Trust (Vital) today announced the off-market
acquisition of The Hills Clinic (The Hills), a private mental health hospital
located in Sydney''s north western growth corridor.
A modern and innovative private hospital
Located in the suburb of Kellyville, approximately 40km north-west of the
Sydney CBD, The Hills is a two-level purpose-built mental health hospital
offering specialist inpatient programs. Healthe Care, Australia''s third
largest corporate private hospital operator and pan-Asian healthcare services
group will lease The Hills from Vital on a 30-year lease.
Built in 2011, The Hills is a 59-bed private inpatient facility, including a
medical clinic with eight consulting rooms and approximately 30 referring
clinicians. The Hills is differentiated by its dedicated youth mental health
program providing modern, innovative accommodation for adolescents with drug,
alcohol, depression and anxiety disorders.
The Hills Clinic supports Vital''s long-term strategy
Chief Executive of the Manager David Carr said, "The Hills Clinic is Vital''s
fifth mental health hospital in Australia and its first in NSW and directly
supports our scale and diversification strategy. The Hills site has
expansion capability, with potential for an additional 24 beds, which fits
nicely with Vital''s philosophy of supporting its operating partners as
population growth and wider demand for mental health services increases over
time".
Settlement is expected to occur in July.
- ENDS -
ENQUIRIES
David Carr, Chief Executive Officer
Vital Healthcare Management Ltd, Telephone 09 973 7301,
Email dcarr@vhpt.co.nz
Stuart Harrison, Chief Financial Officer
Vital Healthcare Management Ltd, Telephone 09 973 7302,
Email sharrison@vhpt.co.nz
End CA:00302477 For:VHP Type:TRANSACT Time:2017-06-13 15:07:53