Acurio Health has entered a joint venture with Home Consortium’s HealthCo arm to initially develop The George Centre (stage 1) followed by an integrated health and innovation precinct (stages 2 & 3) with a potential end value of $500m+ on the 5 hectare Gregory Hills site in Sydney’s south west.
“We look forward to partnering with HealthCo to build a world class health precinct in Camden. This will start with a private Paediatric and Maternity Hospital, The George Centre. Construction will commence in September 2021 with opening targeted at mid 2023,” said Acurio Group CEO, Scott Fowler:
The George Centre will compliment existing services to help meet the family healthcare needs of Camden, Campbelltown and the surrounding community and be the first private paediatric-focused healthcare facility in NSW.
“We bring to this joint venture years of experience and a team of world-class healthcare experts who understand and are committed to the design, development and delivery of innovative patient-centric care,” said Acurio Group Chief Strategy Officer, Robert Lin.
“The joint venture accelerates our ability to further elevate healthcare standards for the Camden LGA in delivering the highest quality medical services to the local community.”
Home Consortium’s HealthCoASX announcement has further details of the agreement to acquire and develop a 5 hectare integrated private hospital anchored health precinct in Camden, NSW:
- Initial land acquisition investment by Home Consortium of $29.2 million with approvals in place to commence construction by October 2021 of a 78 bed private hospital which will be leased to Acurio
- Long term potential to create a $500+ million health and innovation precinct
- The parcels of land have State Significant Development Approval for a mixed-use medical campus including approval for a large scale general hospital and biomedical facility.
About Acurio Health
Acurio Health (formerly Hermitage Healthcare) comprises a group of leading hospitals, day surgeries and research centres located across Sydney and surrounds. Acurio currently consists of industry-leading hospitals, clinics and research centres located across Sydney. Along with The George Centre, these facilities include ACURIO Research, Norwest Day Hospital, Sydney Day Hospital, and Sydney Retina Clinic and Day Surgery. All strive to be at the forefront of the latest medical research, treatments and procedures with the aim of providing the highest quality holistic healthcare to the local community. Acurio’s mission is to elevate healthcare standards by delivering the highest-quality services that provide better experiences and outcomes for patients and sustainable care for generations to come.
HomeCo is an ASX-listed fund manager which invests in high conviction and scalable real asset strategies on behalf of individuals, large institutions and super funds. HomeCo is well capitalised and resourced to internally fund its strategy to grow FUM to $5bn+ in the medium term by leveraging its ‘Own, Develop and Manage’ model.
HomeCo is the manager of HomeCo Daily Needs REIT (HDN) which listed in Nov-20 and owns approximately $1.6bn of assets. HomeCo is targeting the establishment of both a listed and unlisted fund focused on health and wellness sectors (HealthCo) by 2H21.
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