Essential reading for the healthcare business
 
 
Remember me:
Skip Navigation LinksHealthInvestor article
Health Care REIT makes first UK hospital acquisition

Health Care REIT (HCN) has acquired Aspen Healthcare’s four London hospitals for £226 million in a sale and leaseback deal.

This is the first time HCN has bought hospitals outside of the US.

The four facilities acquired by HCN are Holly House Hospital, Highgate Hospital, Parkside Hospital and Cancer Centre London.They are leased back to Aspen on a 25-year lease.

Earlier this year, US hospital operator Tenet Healthcare agreed to acquire Aspen for $215 million (£144 million). The move followed HCN's sale and leaseback deal with Aspen and Tenet will acquire the leasehold interests of the four hospitals HCN owns. The Tenet transaction is due to complete later this year.

Tenet and HCN have a long-established relationship as Tenet is the anchor tenant for 19 of HCN's outpatient medical properties in the US.

In its first quarter statements for 2015, HCN said: "The investment provides a platform for creating connectivity across the continuum of care given our extensive footprint of seniors housing properties in Greater London. The investment extends our strategy of owning private pay properties operated by best-in-class providers in high barrier to entry markets in the UK"

Consultancy Candesic advised HCN on the deal.

Established in 1998, Aspen Healthcare operates four private hospitals, one cancer centre and three ambulatory day surgery centres. The management team is led by chief executive Des Shiels (pictured).


Related articles:

Posted on: 08/05/2015

Latest news stories

19/11/2018
Health Education England has appointed Sir David Behan as chair – effective from 1 December.
19/11/2018
NHS England has lifted the safety restrictions which limited the types of patients eligible to use GP at Hand services following a NHS clinical review.
16/11/2018
Care provider Regard Group has appointed Tracy Kite (pictured) as director of learning and leadership development.
15/11/2018
The McAvoy Group has been awarded a £15 million contract for the offsite construction of a new wing at Northumbria Specialist Emergency Care Hospital, Cramlington.
14/11/2018
Independent investment manager Albion Capital has invested £5 million in The Evewell, a fully-integrated medical centre specialising in reproductive and gynaecological health.


Civica


HealthInvestor blog
The Care Quality Commission is finding its voice as a regulator, but is anyone listening?

Click here to view the HealthInvestor blog


An interest in people rather than machines led to Andrew Lennox dedicating his career to improving patient outcomes
The Care Quality Commission’s latest summary of the state of health and social care points to an unfair and fragmented system
Echo co-founder Stephen Bourke tells Jack Carter how his app is simplifying the repeat prescription process
With the care village market still very much in its infancy in the UK, perhaps two of the biggest questions facing every care village developer, investor and operator are how much can we sell our care village apartments for, and will they hold their value? Carterwood director Ben Hartley provides some answers
Vet sector consolidation means the risk of CMA intervention is increasing, say Andrew Taylor and Nick Warren, partners at Aldwych Partners

Click here to search all feature articles



Deal in the spotlight

Elysium Healthcare's acquisition of LCP takes the group portfolio to more than 60 homes in just two years
Read more


Christie + Co

my images



Veterinary

Vet sector consolidation means the risk of CMA intervention is increasing, say Andrew Taylor and Nick Warren, partners at Aldwych Partners
Read more