Calan seeking more Australian deals

Listed New Zealand hospital landlord Calan Healthcare Properties Trust will finish its new $50 million development job, the Epworth Eastern in Melbourne, this month and is looking for new joint-venture partners or partnerships for other Australian deals.

Chief executive Miles Wentworth said the $7.2 million from the sale of Calan's stake in Ascot Hospital and Clinics was received on May 12 and had been used to reduce borrowings and increase pre-tax earnings by more than $440,000.