BRIEF-Northwest Healthcare Properties acquires strategic interest in Generation Healthcare

Mon Jun 27, 2016 8:11am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

June 27 (Reuters) - Northwest Healthcare Properties Reit

* Northwest Healthcare Properties REIT announces acquisition of strategic interest and management rights to ASX-listed Generation Healthcare REIT

* Northwest Healthcare Properties REIT says has acquired 100 pct of Generation Healthcare Management Pty Limited

* Funded through existing resources and new stock loan financing, transaction is expected to be accretive

* Has option to acquire shares in GHC which would bring Northwest's interest in GHC to approximately 19.9 pct

* Has purchased GHM for A$58.5 mln from APN property group limited

* Northwest Healthcare Properties REIT says transaction will increase co's adjusted NOI generated from hospitals to 42 pct

* Says existing GHM management team has been retained, and will continue to operate GHC independently

* APN has agreed to provide certain services to Northwest for transition period of up to 2 years to ensure successful transition

* Says also entered into an option to purchase up to 27.1 mln units of GHC at price of $2.20 per GHC share

* Says Northwest would own an approximate 19.9 pct interest in GHC Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1 646 223 8780)