Applicant
Vital Healthcare Property Limited
Case number(s)
201710137
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Section 13(1)(c) Overseas Investment Act 2005
Decision Date29 November 2017
InvestmentAn overseas investment in significant business assets and sensitive land, being the Applicant’s acquisition of Bowen, Wakefield and Royston Hospitals including a freehold interest in approximately 2.2204 hectares of sensitive land at Bowen Hospital
Consideration$121,189,529
ApplicantVital Healthcare Property Limited
New Zealand Public and Various Entities, New Zealand (68.1%)
Canadian Public (18.4064%)
Paul Louis Dalla Lana, Canada (6.2936%)
North American Public (2.9%)
Australian Public (1.7%)
Asian Public (1.3%)
European Public (0.7%)
United Kingdom Public (0.6%)
VendorAcurity Health Group Limited
Australian Public (60.1%)
North American Public (39.5%)
New Zealand Public (0.4%)
Background

The Applicant is a New Zealand based investor that specialises in investing in private medical facilities. 

The Vendor will continue to run the medical facilities on a day to day basis and has entered into a lease with the Applicant to do so. 

The Applicant intends to further develop the properties in particular Wakefield and Royston hospitals.

The benefits to New Zealand include:

  • New Zealand oversight and participation in the overseas investment and the Applicant;
  • Vital Healthcare Property Limited has undertaken previous investments that have been or are of benefit to New Zealand in the medical sector;
  • The Applicant has committed to undertake increased landscaping across all three medical facilities.
More informationJane Holland
Bell Gully 
PO Box 4199
AUCKLAND 1140