A significant restructuring is underway in Australia’s private healthcare sector as HealthCo Healthcare & Wellness REIT announced Thursday that a nonprofit organization will assume control of a hospital previously managed by a troubled healthcare company.
The arrangement involves Mount Private Hospital, which will transition to management by Bethesda Health Care beginning in the first quarter of fiscal year 2027. The facility is currently part of a network owned by one of Australia’s major private hospital operators, which entered receivership twelve months ago.
Key elements of the transition include:
• The current hospital operator manages 38 facilities across Australia and has been under receivership for one year
• Mount Private Hospital is among 11 facilities in the network owned by Unlisted Healthcare Fund and HealthCo Healthcare
• Bethesda Health Care, operating as a nonprofit private hospital company, will assume operations under a new extended lease arrangement
• The Western Australia state government will serve as guarantor and provide financial support to facilitate the operational transfer
• State health authorities plan to utilize the facility for procedures including elective surgeries to reduce public healthcare waiting lists
• Officials have granted due diligence periods to potential operators, including Calvary Health Care, for 27 additional hospitals in the network
• New lease agreements are already established for 10 other facilities with Healthe Care, Acurio Health, and KnG Healthcare operating in Victoria, New South Wales, and Queensland respectively
