Archive | Acurity

Published 6 August 2012

Wakefield Health Ltd expects to spend $20-25 million over the next 2-3 years upgrading its Wellington medical campus.

Chief executive Andrew Blair told the company’s annual meeting on Friday Wakefield had the flexibility to alter the existing buildings & their use and to accommodate new facilities at the 2.2ha Newtown campus.

Mr Blar said the initial priority was to strengthen some buildings on the Wakefield Hospital site which fell short of earthquake strength thresholds. The company had a number of options to enhance & expand facilities and would consult clinicians & other complementary healthcare providers to determine what options were best in both the short &medium terms.

The company will start work this year on building accommodation to allow some existing buildings to be decommissioned for strengthening &/or replacement. It will fund the work from cashflows & existing bank facilities.

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Attribution: Company release, story written by Bob Dey for the Bob Dey Property Report.

Published 5 September 2011

Wakefield Health Ltd has entered into an agreement to acquire a 30% interest in Endoscopy Auckland Ltd & Laparoscopy Auckland Ltd for $6.8 million, to be settled this month. The agreement also provides Wakefield with options to increase its stake in these businesses to 50% over the next 5 years.

Endoscopy Auckland & Laparoscopy Auckland are complementary businesses which operate from the same Epsom site. Endoscopy Auckland is New Zealand’s busiest dedicated endoscopy unit, specialising in the investigation & treatment of problems in the gastrointestinal tract. Laparoscopy Auckland is unique as a specialised hospital dedicated to the performance of laparoscopic general surgery & bariatric procedures. Integrated Hospitals Ltd, which also owns the Mercy Ascot hospital group, will continue to hold a 50% interest in Endoscopy and Laparoscopy Auckland.

Wakefield chairman Alan Isaac said on Friday: “These businesses have an extremely strong track record and have built an excellent position in their chosen markets as a result of an absolute commitment to providing a very high quality service, backed by a dedicated team of talented professionals.

“Wakefield is very pleased to take up this opportunity to invest in the Auckland market as part of a successful established business with potential for further growth & development.”

The acquisition follows Wakefield’s recent purchase of Norfolk Investments Ltd, which owns 60% of Tauranga’s Grace Hospital: “These recent acquisitions have enabled Wakefield to expand its interests into markets that are anticipated to be at the forefront of New Zealand’s population growth over coming years and that present favourable demographics for a provider of private healthcare services.

“This will provide important diversification of Wakefield’s earnings streams and access to new future growth opportunities. All of these are well established businesses which are co-owned by committed sector investors and operate high quality facilities with pre-eminent positions in their respective markets.”

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Attribution: Company release, story written by Bob Dey for the Bob Dey Property Report.

Published 25 January 2006

Wellington surgical hospitals owner Wakefield Health Ltd confirmed today no shareholders of Wakefield or Hastings-based counterpart Royston Hospital Ltd had exercised minority buyout rights in relation to the 2 companies’ proposed amalgamation.

That means no adjustment to the terms of exchange for the amalgamation is required. Royston shareholders will get 0.9531 of a Wakefield share for every Royston share. The amalgamation is scheduled to take effect on 31 January.

Based on pro forma financial data, the merged company will have initial turnover of around $60 million/year and total assets of $90 million.

Earlier story:

18 September 2005: Wakefield & Royston hospital companies plan merger

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Attribution: Company statement, story written by Bob Dey for this website.

Published 25 November 2005

Wakefield Health Ltd has finalised the documentation for its proposed amalgamation with Hastings-based Royston Hospital Ltd and will send it to shareholders on 30 November. The special meetings at which shareholders will be asked to approve the proposal are still to be held on 15 December.Earlier story:

18 September 2005: Wakefield & Royston hospital companies plan merger

If you want to comment on this story, write to the BD Central Discussion forum or send an email to [email protected].

Published 18 September 2005

Listed Wellington surgical hospitals owner Wakefield Health Ltd plans to take over Hastings-based counterpart Royston Hospital Ltd in a merger announced on 14 September.

Wakefield chairman John Calder & Royston chairman Jay Tyler said both boards were unanimous in their support of the proposal.Royston is a private surgical hospital servicing Hawke’s Bay. Wakefield has 2 surgical hospitals in Wellington, Wakefield & Bowen, and owns 50% of clinical trials company P3 Research Ltd. Royston shareholders will hold about 39% of the merged company. Based on pro forma financial data, the merged company will have initial turnover of around $60 million/year and total assets of $90 million. Shareholder meetings are expected by mid-November for completion of the merger in December.

If you want to comment on this story, write to the BD Central Discussion forum or send an email to [email protected].