Canadian Landlord Northwest Buys Into Australia's Healthscope Amid Takeover Bid

Canadian landlord NorthWest Healthcare Properties REIT has announced a A$416 million (C$402 million) strategic investment in Australian hospital operator Healthscope as part of a plan to buy its real estate amid a private equity takeover bid for the firm. NorthWest, headquartered in Toronto, said today it has acquired a 10 per cent interest in Healthscope through a derivative transaction. The deal gives NorthWest 10.1 per cent of the voting rights at the Australian company, making it the second-biggest voting block behind pension fund AustralianSuper, a partner in the A$3.1 billion takeover bid launched late last month by high-profile domestic private equity firm BGH Capital. Healthscope is Australia’s second-largest hospital operator and holds 45 hospital properties. NorthWest has a diversified portfolio of 149 income-producing healthcare properties throughout major markets in Canada, Brazil, Germany, Australia, and New Zealand.

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