Cura Day Hospitals Group is taking on its first greenfield development project with an acquisition that will offer world-class healthcare in Sydney’s western suburbs.
Cura has bought a majority stake in a new private hospital being built in Penrith, due to open in mid-2021.
It aims to 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.
Australia’s largest private provider of facilities specialising in day services, formed in 2008, will now have a portfolio of 25 hospitals nationwide and six in New South Wales.
“We’ve historically acquired established Australian private hospital facilities and have completed a number of hospital redevelopments, but this will be our first greenfield hospital development,” Cura CEO Andrew Currie said.
“We have partnered with experienced developers and have been heavily involved in the design of the facility.”
Construction of the Somerset Private Hospital building has been completed, and its integrated theatres are expected to be fully equipped with the latest technology in April/May.
The hospital will offer specialty services including ophthalmology, plastics and reconstructive surgery, orthopaedics, gastroenterology, gynaecology, ENT and oral and maxillofacial, as well as overnight facilities.
“It is well located opposite the Nepean Hospital and provides a good opportunity to work with the doctors in that area,” Mr Currie said.
“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.”
The project is expected to create around 100 jobs, as Cura looks to provide a sustainable offering in the area that complements the group’s existing services.
“We expect demand for the hospital’s theatre lists to be strong,” Mr Currie 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 five to 10 years to meet demand for services.”
Mr Currie said Cura – which became a majority-owned subsidiary of global group Fresenius Medical Care’s Australian operation in 2020 – planned to expand its presence further across Australia.
“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,” he said.