FPH enters agreement to purchase land for second NZ Campus

Fisher & Paykel Healthcare Corporation Limited (FPH), listed on both the New Zealand (NZX) and Australian (ASX) stock exchanges, has announced it has entered into a sale and purchase agreement, subject to Overseas Investment Office (OIO) consent, to purchase a 105 hectare site in Karaka, Auckland, for $275 million.

The company plans to build a second campus on the site, located 25 kilometres south of its existing Highbrook development, to house a large number of research and development and pilot manufacturing employees, and support further growth of the company.

The purchase is expected to be funded through a combination of operating cash flow and debt facilities.