Day hospital group acquires majority stake in private hospital development

Wednesday, 03 February, 2021

Day hospital group acquires majority stake in private hospital development

Cura Day Hospitals Group has acquired a majority stake in Somerset Private Hospital — a Penrith-based private hospital development that will provide locals with world-class health care close to home.

Adding to Cura’s portfolio to 25 hospitals nationwide, the acquisition will reduce waiting lists, lower travel time for elective surgery, address a growing demand for private health services and help alleviate pressure on the local health system.

The private hospital, specialising in day surgery procedures in Sydney’s western suburbs, is set to open in mid-2021.

Cura Day Hospital Group CEO Andrew Currie said the acquisition presents an opportunity for the Group to further grow and support offerings in the Penrith area.

“We’ve historically acquired established Australian private hospital facilities and have completed a number of hospital redevelopments; however, this will be our first greenfield hospital development,” Currie said.

“We have partnered with experienced developers and have been heavily involved in the design of the facility.

“The hospital is well located opposite the Nepean Hospital and provides a good opportunity to work with the doctors in that area.”

Currie explained that the premises will include other allied health services and will be a medical hub for the community. Several doctors have taken up tenancies within the premises for consulting suites.

The hospital, which will also provide overnight facilities, will be furnished with the latest technology and equipment to provide specialty services to both adult and paediatric patients.

Specialties will include ophthalmology, plastics and reconstructive surgery, orthopaedics, gastroenterology, gynaecology, ENT and oral and maxillofacial services.

Currie said the new facility is expected to provide around 100 jobs, with the Cura Group looking to hire staff between now and the middle of the year.

“There has already been interest from a number of doctors, and we expect demand for the hospital’s theatre lists to be strong,” he said.

“We have seen the private offering in this area grow significantly over the last 10 years and we expect it to continue to increase over the next 5–10 years to meet demand for services.

“While Somerset Private Hospital is the Group’s first acquired development, we will continue to look for other projects both already established and in the greenfield space.”

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