Vital Healthcare Property Trust has bought Eden Rehabilitation Hospital in Cooroy in Queensland, Australia, for A$23.8 million as part of its ongoing diversification strategy.
Eden is a private rehabilitation hospital leased to Healthe Care Australia and has future brownfield potential, Vital Healthcare chief executive David Carr said in a release to the stock exchange.
Vital has agreed to a new 20-year lease with Healthe Care, Australia's third-largest corporate private hospital operator and Pan-Asian healthcare services group.
The purchase of the 48-bed private inpatient rehabilitation hospital and medical centre "further reinforces Vital's commitment to its scale and diversification strategy while working alongside our tenant partners to support their own long-term growth aspirations," said Carr.
Eden has provided rehabilitation and medical care to Sunshine Coast residents for over 15 years.
