Vital Healthcare to buy hospitals from Acurity for $68M in development partnership

Thu, 11 May 2017

By Rebecca Howard May 11 (BusinessDesk) - Vital Healthcare Property Trust has entered a conditional agreement with Acurity Health Group to become its long-term real estate capital partner, helping redevelopment and grow Acurity’s portfolio of private hospitals in New Zealand. The first stage of this partnership would see Vital acquire Acurity’s Wakefield and Bowen private hospitals in Wellington for about $68 million. That is subject to certain pre-settlement conditions being satisfied, including Overseas Investment Office and development...

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