Northwest share buy

NORTHWEST Healthcare has acquired a 10 per cent interest in ASX-listed Healthscope at $2.39 per share, providing the Canadian giant access to the property portfolio of the country’s second largest private hospital operator.

Toronto-based Northwest, with a major stake in the New Zealand-listed Vital Healthcare already boasts a portfolio of almost 150 medical buildings across Canada, Brazil, Germany, Australia and New Zealand.

In a statement yesterday, Northwest said it intends to pursue any potential Healthscope property acquisitions jointly with Vital, which already has the majority of its $1.67 billion healthcare portfolio in Australia.

The real estate trust said the Healthscope stake was bought using a derivative with Deutsche Bank, which is also advising Northwest.