| Decision | Consent Granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 7 June 2016 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a leasehold interest in approximately 0.7262 hectares of land at 666 & 678 High Street, Lower Hutt (also known as Boulcott Hospital). |
| Consideration | $16,000,000 |
| Applicant | Pulse Health Limited Australian Public (97.39%) New Zealand Public (1.68%) Various other overseas persons (0.93%) |
| Vendor | Boulcott Hospital Limited Australian Public (60.1%) United States Public (39.5%) New Zealand Public (0.4%) |
| Background | The Applicant is an operator of specialist private hospitals in Australia. It operates seven hospitals and five day surgeries across Queensland, Victoria and New South Wales. The Investment is the Applicant’s first New Zealand investment. The Applicant views the acquisition of Boulcott Hospital’s business as a quality and low risk platform to expand into the New Zealand healthcare market. The Vendor is required by the Commerce Commission to sell the business and assets of Boulcott Hospital pursuant to clearance number 15416. 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 | Andrew Petersen Bell Gully PO Box 4199 AUCKLAND 1140 |