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Vital considers participation in Healthscope property opportunity

Friday, 01 February 2019

Vital considers participation in Healthscope property opportunity

NorthWest Healthcare Properties Management Limited, as manager of Vital Healthcare Property Trust (Vital), today announced that its related company, NorthWest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) (NorthWest) and its controlled entities have entered into a conditional contract to acquire 11 freehold hospital property assets from ASX listed Healthscope Limited (Healthscope) (the Portfolio) for A$1,258 million as part of a sale and lease back transaction (the Property Transaction).  NorthWest will release its announcement independently.


Vital is not currently a party to the Property Transaction.  Vital views it as potentially an attractive opportunity and has had significant discussions about its participation in the acquisition of the Portfolio with NorthWest.  Those discussions have not as yet resulted in any agreement.  Any such participation is subject to being able to reach agreement on commercial terms and documentation with NorthWest.


Further, any participation by Vital would be subject to compliance with its Trust Deed and the Financial Markets Conduct Act (FMCA), including necessarily being in the best interest of unitholders and on arms’ length terms.



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