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Decision helps Calan

A decision from the Commerce Commission will be a significant boost for the Calan Healthcare Properties Trust, according to its management.

Thursday, December 20th 2001, 10:00AM

A decision from the Commerce Commission will be a sigfnificant boost for the Calan Healthcare Properties Trust, according to its management.

The commission has approved an application by The Ascot Hospital & Clinics Limited to acquire the private, elective, surgical operating business of the Mercy Hospital. As a result, the hospital company will trade under the MercyAscot name.

This will make Ascot Hospital the pre-eminent private surgical hospital in New Zealand, and it will also have significant flow-on benefits for the trust.

The integration of the two hospitals will bring together the resources and capabilities of two of Auckland’s leading private hospitals, creating a new centre of excellence for private health care in New Zealand.

This is expected to lead to the growth of existing services and the likely introduction of new areas of specialty and services.

Existing services will be consolidated and there will be site specialisation, with an expanded cardiac programme to be run out of the current Ascot Hospital site.

Trust spokesman, Martin Lyttelton says that the resulting increases in procedure volumes, and theatre and ward utilisation would strongly underpin the business of the trust’s largest tenant, and will be reflected over time in the activity-based rentals that apply to the Ascot Hospital facility.

Lyttelton says that the creation of MercyAscot significantly strengthens the trust’s position in relation to Ascot Clinics, the $17 million facility to be built next to Ascot Hospital & Clinics in Greenlane.

The Clinics building has been designed to provide additional ward capacity for the neighbouring hospital, and further accommodation for consulting specialists.

"The trust expects to be able to move quickly now to finalise the tenancy profile, design configuration and leasing arrangements for Ascot Clinics and construction is expected to begin in the first half of 2002," Lyttelton says.

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AMP Home Loans LVR <80% - - ▲5.99 6.19
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BNZ - Mortgage One 7.15 - - -
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Credit Union South 5.75 - - -
eMortgage 6.04 6.15 6.69 7.19
Finance Direct 6.10 6.45 6.69 7.10
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HSBC Premier 6.84 5.95 5.95 6.39
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HSBC Special - - - -
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