Healthe Care Australia Chief Executive Steve Atkins says the hospital operator’s sale to China’s Luye Medical is a boon for Australia’s healthcare system.
Luye Medical has taken control of Healthe Care after the Foreign Investment Review Board signed off on the $938 million acquisition.
Mr Atkins said securing the backing of an investor with an interest in Australia's health system had paved the way for Healthe Care to enhance and expand its services in Australia and elsewhere for the benefit of its patients.
“Our expertise in running some of Australia’s best private hospitals is now combined with the financial backing of Luye Medical and its strong service presence across Asia,” Mr Atkins said.
“Both companies are ideally placed to benefit from the Free Trade Agreement and we are already exploring collaboration of knowledge, experience and expatriate opportunities.
“Having the backing of a major international organisation also secures future funding for new acquisitions plus reinvestment into our existing hospitals, services, people and the local communities we serve.”
Healthe Care is Australia’s third biggest private hospital operator with 17 hospitals and 1,800 beds.
It pales in comparison to giants Ramsay Health Care and Healthscope, the nation’s biggest and second biggest operators respectively.
But Luye Group Chairman Liu Dian Bo said Healthe Care’s reputation as one of Australia’s leading healthcare services was what attracted his company to the Australian operator.
“We have the capital and commitment to fund expansion of Healthe Care’s hospitals to enable it to continue to bolster its position as one of the leading healthcare services companies in the country,” Mr Dian Bo said.
“I strongly believe that Healthe Care will provide us with a platform upon which we can build a world class and highly successful healthcare services business not only in Australia and China, but also in many other countries of Asia where we see development opportunities exist.”
Mr Dian Bo said Luye Medical would capitalise on Healthe care’s proven systems and operating standards.
“Patient care and outcomes are at the heart of what we do and I see our role as enhancing and improving that experience for our patients,” he said.