Deal profile | Gadens advises Barwon Investment Partners on the acquisition of Gosford Private Hospital

Gadens has advised the Barwon Institutional Healthcare Property Fund, managed by Barwon Investment Partners, in relation to both the acquisition and the financing of the acquisition of Gosford Private Hospital.

The Barwon Institutional Healthcare Property Fund launched in November 2016 targets healthcare properties such as hospitals, private specialist facilities, day surgeries and medical centres and other healthcare assets.

The acquisition of Gosford Private Hospital is a milestone investment for Barwon Institutional Healthcare Property Fund and is now their most significant healthcare asset, adding to the existing string of hospitals, local medical centres and health facilities.

Gadens acted in relation to the acquisition of the Hospital, including undertaking due diligence in relation to the land and negotiating and settling the contracts of sale for the transfer of leases to the Barwon Investment Partners entity. Gadens also advised on the financing of the acquisition as well as the establishment of the general financing structure for the Barwon Institutional Healthcare Property Fund.  

Gadens has a strong reputation for supporting the health sector and this acquisition is demonstration of the client led solutions our combined cross-discipline teams deliver to clients. 

Firms involved: Gadens (acted for Barwon Investment Partners), Corrs Chambers Westgarth (acted for the lender, National Australia Bank), HWL Ebsworth (acted for the vendor, Healthe Care on the disposition of the property).

Deal value: In excess of AUD $180 million.

Deal area: Property, Construction & Planning and Banking & Finance

Key team members:

Gadens partners Andrew Kennedy (Property, Construction & Planning), Archie Smith (Property, Construction & Planning), Michael Bampton (Property, Construction & Planning ) and Doug Scobie (Banking & Finance) led the team which included Sean Huggins (Special Counsel), Del Chin (Senior Associate), Elise Holland (Associate), and Rebecca Ferraro (Lawyer).

Deal significance:

Gosford Private Hospital offers an extensive range of services from general medical and rehabilitation through to both day and overnight surgery services, hydrotherapy pool, maternity services and pediatric surgery.