Vital Manager Announcement
NORTHWEST HEALTHCARE PROPERTIES REIT TO INTEGRATE ITS
AUSTRALIAN AND NEW ZEALAND MANAGEMENT PLATFORMS
TORONTO, JANUARY 29, 2018 – NorthWest Healthcare Properties REIT (NorthWest) (TSX: NWH) today
announced the integration of its market leading, best practice management platforms in Australia and
New Zealand.
The operational integration of its Vital Healthcare Management Limited and Generation Healthcare
Management Pty Ltd management teams results in an additional investment and strengthening of its
industry leading healthcare real estate management platform in Australia and New Zealand.
The integrated platform will be overseen by Bernard Crotty, President NorthWest and will consist of 30
team members located in Melbourne, Australia and Auckland, New Zealand providing unmatched sector
expertise, relationships and skill sets.
David Carr and Stuart Harrison will continue in their respective manager roles as CEO and CFO of Vital
Healthcare, and will report to Mr. Crotty. Mr. Harrison will take on the additional role of Regional
Finance Director of the newly integrated NorthWest Australia and New Zealand management platform.
Also reporting to Mr. Crotty will be Executive Directors Richard Roos and Chris Adams who will lead
NorthWest’s investment, asset management and development teams in the region, with appropriate
protocols in place, relating to areas of potential conflict of interest.
The integrated management platform will be rebranded, with the combined platform to be known as
NorthWest Healthcare Properties Management. The management entity will provide management
services to both Vital Healthcare Property Trust (Vital) (NZX: VHP) and Generation Healthcare REIT (a
wholly owned NorthWest entity). Generation Healthcare REIT will be rebranded to NorthWest
Healthcare Properties Australia REIT and Vital’s name and branding will not change.
Commenting on the platform integration, Paul Dalla Lana, Chairman and CEO of NorthWest said:
“We are very excited by the integration of our industry leading management platforms in
Australia and New Zealand. This step will allow us to offer an enhanced service, solutions and
sector expertise to our tenants and partners in the region.
NorthWest’s consolidated business interests in the region aggregate to A$2.5bn (C$2.4bn)and
with a pipeline of projects currently totalling more than A$600m (C$600m), we are the clear
market leader as a healthcare real estate capital partner and investor in the region.
With a highly experienced team of industry experts, key sector relationships and a proven, value‐
add track record, the business is well positioned to execute on its stated scale and diversification
284 KING STREET EAST, TORONTO, ONTARIO, M5A 1K4
T: 416 366 2000 F: 416 366 2433
www.nwhp.ca
strategy and continue to deliver sustainable distributions and long term value creation for both
Vital and NorthWest unitholders.”
NorthWest also announced today that Miles Wentworth, the Generation Healthcare REIT CEO, will
transition to a Board and Advisory role within the NorthWest Healthcare Properties Australian and New
Zealand management platform in April 2018, following his decision to devote more time to his family
and other personal interests.
Paul Dalla Lana, said:
“Miles has been instrumental in the formation, growth and scale of the Generation business. We
are very pleased to be able to retain Miles’ specialist skills, experience and key relationships
within our business.”
Miles Wentworth said:
"I am immensely proud of having been the CEO of Generation Healthcare REIT since its inception
which totals just over 11 years. To be part of a team that has created exceptionally high quality
healthcare property which has enhanced the services provided to the Australian public, whilst
providing an attractive investment product for the full spectrum of investors is exceptionally
satisfying. I look forward to a continued involvement in the sector, albeit with a materially
reduced time commitment, with NorthWest Healthcare Properties in the Australian and New
Zealand region."
About NorthWest Healthcare Properties Real Estate Investment Trust
NorthWest Healthcare Properties Real Estate Investment Trust (TSX:NWH.UN) is an unincorporated,
open‐ended real estate investment trust established under the laws of the Province of Ontario. The REIT
provides investors with access to a portfolio of high quality international healthcare real estate
infrastructure comprised of interests in a diversified portfolio of 144 income‐producing properties and 9.7
million square feet of gross leasable area located throughout major markets in Canada, Brazil, Germany,
Australia and New Zealand. The REIT's portfolio of medical office buildings, clinics, and hospitals is
characterized by long term indexed leases and stable occupancies. With a fully integrated and aligned
senior management team, the REIT leverages over 180 professionals across nine offices in five countries
to serve as a long term real estate partner to leading healthcare operators.
For further information, please contact Paul Dalla Lana, CEO at (416) 366‐8300 x 1001.
This press release contains forward‐looking statements which reflect the REIT’s current expectations
regarding future events. The forward‐looking statements involve risks and uncertainties. Actual results
could differ materially from those projected herein. The REIT disclaims any obligation to update these
forward‐looking statements.
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.
Other issuers discussed similar conditions around this time
Matched by meaning across NZX announcement text, not keywords — based on our semantic index of announcement bodies.
- WBC — Westpac Banking Corporation: Sale of Hastings international businesses to Northill2017-12-20
“MEDIA RELEASE 20 DECEMBER 2017 Sale of Hastings International Businesses to Northill Capital Westpac Banking Corporation (ASX:WBC) (“Westpac”) and Northill Capital (“Northill”) have announced today that Westpac’s subsidiary Hastings Management Pty Limited (“Hastings”) and…”
- WBC — Westpac Banking Corporation: Completion of sale of Hastings international businesses2018-03-26
“MEDIA RELEASE 26 MARCH 2018 Completion of sale of Hastings’ international businesses to Northill Capital Westpac Banking Corporation (ASX:WBC) (“Westpac”) has today announced completion of the sale of the international businesses of Westpac’s subsidiary Hastings Managemen…”