ASX-listed HealthCo buys eight oncology clinics for $81m

It has also formed a JV with Acurio to develop a private hospital in NSW.

ASX-listed HealthCo is acquiring eight private oncology clinics with triple-net leases from GenesisCare for $81.27m (A$110.3m), the company announced in a bourse filing.

Following the acquisition, Genesis Care will continue to operate each centre. GenesisCare operates over 440 clinics across the globe, including 370 radiation therapy treatment centres in Australia, the USA, the UK, and Spain.

At the same time, HealthCo has formed a joint venture with Acurio Health Group to acquire and develop a 5 HA integrated private hospital anchored health precinct in Camden, New South Wales, with an initial land acquisition investment by the former of $21.5m (A$29.2m).

In addition, the joint venture will develop an integrated health and innovation precinct, stages 2 and 3, with a potential end value of at least $368.11m (A$500m).

For stage 1 of the project, HomeCo has agreed on terms to fund at least $51.54m (A$70m) of CAPEX and construction is expected to begin by October.