Vital Healthcare Property Trust (‘Vital’) confirms that Australia’s third largest private hospital operator, Healthe Care has been acquired by Luye Medical Group.
Chief Executive of the Manager of Vital, David Carr said “We have now received formal confirmation from one of our key Australian tenants, Healthe Care, that following receipt of FIRB1 approval the Luye Medical Group has acquired Healthe Care. Having met with Luye Medical Group executives this is excellent news and we look forward to working with them, along with the Healthe Care executive team in this new and exciting phase of ownership.”
“Vital owns 11 private hospitals in Australia that Healthe Care operates from, with many having undergone significant redevelopment and expansion in recent years to meet rising demand for healthcare services. Further value-add initiatives are underway or proposed that will continue to support Healthe Care’s growth aspirations” said David Carr.
Luye Medical Group is privately owned by Luye Group (founded in 1994) which has its headquarters in Singapore. Luye Group has three core investments, including Luye Medical Group, Luye Investments Group and Luye Pharma Group. Luye Pharma Group is listed on the Hong Kong Exchange with an approximate market capitalisation of NZ$3.5 billion.
1 Foreign Investment Review Board (Australia)
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