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BRIEF-Northwest Healthcare Properties acquires strategic interest in Generation Healthcare REIT

Published 27/06/2016, 10:04 pm
© Reuters.  BRIEF-Northwest Healthcare Properties acquires strategic interest in Generation Healthcare REIT
NWH_u
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June 27 (Reuters) - Northwest Healthcare Properties Reit NWH_u.TO

* Northwest Healthcare Properties REIT announces acquisition of strategic interest and management rights to ASX-listed Generation Healthcare REIT

* Northwest Healthcare Properties REIT says has acquired 100 pct of Generation Healthcare Management Pty Limited

* Funded through existing resources and new stock loan financing, transaction is expected to be accretive

* Has option to acquire shares in GHC which would bring Northwest's interest in GHC to approximately 19.9 pct

* Has purchased GHM for a$58.5 mln from APN property group limited

* Northwest Healthcare Properties REIT says transaction will increase co's adjusted NOI generated from hospitals to 42 pct

* Says existing GHM management team has been retained, and will continue to operate GHC independently

* APN has agreed to provide certain services to Northwest for transition period of up to 2 years to ensure successful transition

* Says also entered into an option to purchase up to 27.1 mln units of GHC at price of $2.20 per GHC share

* Says Northwest would own an approximate 19.9 pct interest in GHC Source text for Eikon: ID:nCNWDn1RZa Further company coverage: NWH_u.TO

(Bengaluru Newsroom: +1 646 223 8780)

June 27 (Reuters) - Northwest Healthcare Properties Reit NWH_u.TO

* Northwest Healthcare Properties REIT announces acquisition of strategic interest and management rights to ASX-listed Generation Healthcare REIT

* Northwest Healthcare Properties REIT says has acquired 100 pct of Generation Healthcare Management Pty Limited

* Funded through existing resources and new stock loan financing, transaction is expected to be accretive

* Has option to acquire shares in GHC which would bring Northwest's interest in GHC to approximately 19.9 pct

* Has purchased GHM for A$58.5 mln from APN property group limited

* Northwest Healthcare Properties REIT says transaction will increase co's adjusted NOI generated from hospitals to 42 pct

* Says existing GHM management team has been retained, and will continue to operate GHC independently

* APN has agreed to provide certain services to Northwest for transition period of up to 2 years to ensure successful transition

* Says also entered into an option to purchase up to 27.1 mln units of GHC at price of $2.20 per GHC share

* Says Northwest would own an approximate 19.9 pct interest in GHC Source text for Eikon: ID:nCNWDn1RZa Further company coverage: NWH_u.TO

(Bengaluru Newsroom: +1 646 223 8780)

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