Source: Radio New Zealand
123RF
Vital Healthcare’s management is going in-house, with a $220 million capital raising to fund the change and position the property trust for near-term development projects.
The parties had reached a conditional agreement to buy out the external managers, Northwest, which had a long-term agreement to manage the trust’s hospitals and medical facilities property portfolio.
“Internalisation marks an important milestone for Vital, positioning the business to deliver stronger and more sustainable returns for Unit Holders,” Vital chair Graham Stuart said.
“By bringing management in-house under a strengthened governance framework, Vital will be well-positioned to unlock future growth, enhance transparency and accountability, and fully align management and investor interests.
“This transaction creates a scalable platform as Vital continues to grow its leadership in healthcare real estate.”
The capital will be raised by way of a $190m underwritten placement of units and a $30m unit purchase plan at a fixed price of $1.95 a unit.
The price per unit represented a 9.5 percent discount to the dividend-adjusted unit closing price of $2.156 on 7 November 2025.
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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
