Vital Healthcare needs $400m to keep up with pipeline

Vital Healthcare needs $400m to keep up with pipeline
Napier Hospital is on the market. (Image: Vital)
Brent Melville
Vital Healthcare will need to stump up $400 million to retain its stake in its “uncommitted” development pipeline of $2 billion, investment house Forsyth Barr says.Research analysts Rohan Koreman-Smit and Paul Koraua said that assuming a 40% gearing and valuing its development land at book of $200m, the NZ stock exchange listed healthcare landlord will need to contribute that additional capital to retain a 50% stake in the pipeline, in the form of new equity or further capital recycling.Vital Healthcare’s latest revaluation, m...

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