Cura Day Hospitals Group acquires majority stake in private hospital development

MedTech News: Cura Day Hospitals Group has acquired a majority stake in a Penrith private hospital development which will provide locals with world-class health care close to home.

The acquisition, which brings Cura’s portfolio to 25 hospitals nationwide and its sixth in New South Wales, will reduce waiting lists, lower travel time for elective surgery, address a growing demand for private health services, and help alleviate pressure on the local health system.

The Private Hospital specialising in day surgery procedures in Sydney’s western suburbs is set to open in mid-2021.

Cura Day Hospital Group CEO, Andrew Currie, says the acquisition presents an opportunity for the Group to further grow and support offerings in the Penrith area.

“We’ve historically acquired established Australian private hospital facilities and have completed a number of hospital redevelopments however this will be our first greenfield hospital development. We have partnered with experienced developers and have been heavily involved in the design of the facility,” said Mr Currie.

“The hospital is well located opposite the Nepean Hospital and provides a good opportunity to work with the Doctors in that area.

“The premises will include other allied health services and will be a medical hub for the community. A number of Doctors have also taken up tenancies within the premises for consulting suites,” he added.

Cura is looking to expand its facilities to provide a sustainable service offering in the area which will complement the existing services provided by the Group.

The hospital, which will also provide overnight facilities, will be furnished with the latest technology and equipment to provide specialty services to both adult and paediatric patients.

Specialties will include Ophthalmology, Plastics & Reconstructive surgery, Orthopaedics, Gastroenterology, Gynaecology, ENT and Oral & Maxillofacial.

Construction of the building has been completed with equipping of the high-tech integrated theatres expected to be finalised in April/May 2021.

The Cura Group has partnered with leading companies to supply the latest technology and equipment to cater for each of the medical speciality areas on which it will focus.

Mr Currie says the new facility is expected to provide around 100 jobs, with the Cura Group looking to hire staff between now and the middle of the year.

“There has already been interest from a number of Doctors, and we expect demand for the hospital’s theatre lists to be strong,” he said.

“We have seen the private offering in this area grow significantly over the last 10 years and we expect it to continue to increase over the next 5-10 years to meet demand for services.”

Mr Currie says the Cura Group will continue to expand its footprint across Australia including in areas of need.

“While Somerset Private Hospital is the Group’s first acquired development, we will continue to look for other projects both already established and in the greenfield space.”