HMC Capital, a significant landlord for Healthscope, has announced that it has reached conditional agreements with alternative operators to manage the hospitals should a buyer for the struggling private hospital network not be found. HMC Capital has interests in 11 of Healthscope’s 37 hospitals across Australia. Healthscope entered receivership in May, prompting the launch of a sale process by the receivers. HMC Capital is an Australian alternative asset manager focused on real estate, healthcare, and private equity. Healthscope is one of Australia’s largest private hospital operators.
HealthCo Healthcare & Wellness REIT, an ASX-listed HMC satellite trust, informed investors on Friday that all 11 hospitals are operating without interruption and that Healthscope has met all its rental obligations. The REIT stated that it would consider entering into lease agreements with alternative tenants if the current sale process were to fall through. This proactive approach aims to ensure the continued operation of these healthcare facilities.
The conditional agreements with alternative operators provide a safety net in the event that a suitable buyer for Healthscope cannot be secured. While the specific identities of these operators have not been disclosed, the move signals HMC Capital’s commitment to maintaining healthcare services at these locations. The agreements are conditional and dependent on the outcome of the sale process and any subsequent decisions made by the receivers.
This development provides some reassurance to stakeholders, including patients and staff, amidst the uncertainty surrounding Healthscope’s future. The focus remains on finding a viable buyer for the hospital network, but these contingency plans offer a degree of stability for the hospitals managed by HMC Capital. The conditional agreements highlight the complex interplay between property ownership and healthcare operations in the current environment.
