| Decision | Consent granted Section 12(b) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 28 March 2017 |
| Investment | An overseas investment in sensitive land, being Healthe Care Australia Pty Limited’s (the “Consent Holder”) acquisition of rights or interests in 100.0% of the Ordinary shares of Pulse Health Limited (“Pulse”) which owns or controls a leasehold interest in approximately 0.7268 hectares of land located at 666-672 High Street, Lower Hutt. |
| Consideration | $129,310,646 |
| Applicant | Healthe Care Australia Pty Ltd Luye Investment Group Co Ltd, China, People's Republic of (98.02%) Various overseas persons (1.98%) |
| Vendor | Existing shareholders of Pulse Health Limited Australian Public (84.49%) Various overseas persons (13.56%) United Kingdom Public (1.34%) North American Public (0.58%) European Public (0.03%) |
| Background | The Consent Holder is currently Australia’s third-largest for-profit private hospital operator. The Consent Holder has recently made a takeover offer for Pulse, a public company listed on the Australian Securities Exchange. Boulcott Hospital forms part of Pulse’s portfolio of businesses. As such, the Consent Holder’s Investment in Boulcott Hospital forms only part of the wider takeover transaction. Through the Consent Holder’s scale, existing relationships with suppliers and centralised procurement system, it is likely to obtain discounts for Boulcott Hospital, on hospital equipment and consumables. The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. The 'benefit to New Zealand' criterion was satisfied by particular reference to the following factors: Overseas Investment Act 2005 Overseas Investment Regulations 2005 |
| More information | Glenn Shewan Bell Gully PO Box 4199 AUCKLAND 1140 |