Chinese operator buys up Aussie hospitals

Chinese owned Healthe Care has boosted its portfolio of Australian hospitals to 21 after doing a $53 million deal for three hospitals in the Illawarra region of NSW.

Chinese owned private hospital operator Healthe Care has bought three NSW hospitals for $53 million while it continues to negotiate a takeover of another health care operator.

The purchase of Shellharbour Private Hospital, South Coast Private mental health hospital and Wollongong Day Surgery, all in the Illawarra region south of Sydney, takes Healthe Care’s local portfolio to 21 hospitals.

Healthe Care, Australia’s third largest corporate private hospital operator, is currently negotiating a takeover of ASX-listed private hospital operator Pulse Health.

The company, acquired by China’s Luye Medical group a year ago for $938 million, has been given the green light by the Australian competition watchdog to acquire Pulse.

Pulse operates 12 hospitals, including Westmead Rehabilitation and Bega Valley Private in NSW, and Gold Coast Surgical and Mackay Rehabilitation hospitals in Queensland.

Healthe chief executive Steve Atkins said the company expects to settle further acquisitions this year.

In February, the company bought two other hospitals: a 30-bed mental health hospital at Perth and a rehabilitation and day clinic south of Perth.

Source: http://www.sbs.com.au/news/article/2017/04/18/chinese-operator-buys-aussie-hospitals

http://www.illawarramercury.com.au/story/4599510/illawarra-hospitals-acquired-in-53m-deal/

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