HealthCo Healthcare and Wellness REIT (ASX:HCW) said the Unlisted Healthcare Fund and troubled hospital operator Healthscope reached an agreement with Bethesda Health Care for the Mount Private Hospital in Western Australia, according to a Thursday filing with the Australian bourse.
As part of the operator agreement, Healthscope will surrender its existing lease, and Bethesda will start its new long-term lease in the first quarter of fiscal 2027.
The Western Australia state government will provide financial support to Bethesda to facilitate the transition of the Mount Private Hospital, while the state's public healthcare system will engage the hospital's facilities for services such as elective surgeries to help alleviate pressure on the public waiting list, per the filing.
The face rent will remain unchanged, and the Unlisted Healthcare Fund will provide rental incentives in line with previous disclosures.
Meanwhile, Healthscope's receiver has granted a due-diligence period to alternative operators for all 27 of its remaining hospitals as the parties work to ensure continuity of service and an orderly transition.
HealthCo Healthcare said it has executable new lease agreements in place for 10 other Healthscope hospitals on a state-by-state basis with Healthe Care in Victoria, Acurio Health in New South Wales, and KnG Healthcare in Queensland.
The company and Unlisted Healthcare Fund have received all the rent due from Healthscope through May.