FPH to sell portion of Karaka Road land in Drury to HNZ

News Release
STOCK EXCHANGE LISTINGS: NEW ZEALAND (FPH), AUSTRALIA (FPH)

Fisher & Paykel Healthcare to sell portion of Karaka Road land in Drury to Health New
Zealand for new hospital

Auckland, New Zealand, 5 October 2026 – Fisher & Paykel Healthcare has entered into an agreement
to sell 13 hectares of its 105-hectare site on Karaka Road in Drury, New Zealand, to Health New
Zealand at a purchase price of $45.3 million. A copy of an announcement from Minister of Health Hon
Simeon Brown is attached.

Health NZ intends to use the land to develop a future hospital facility to serve the growing South
Auckland population. The site is next to the Ngākōroa train station and is fronted by State Highway 22.

Fisher & Paykel Healthcare will retain the remaining land for the development of its planned second
campus in New Zealand. The company’s rezoning application for the site is currently under review by
Auckland Council.

Managing Director and Chief Executive Officer Lewis Gradon said Fisher & Paykel Healthcare has had
a long-standing connection with the New Zealand health system.

“We have worked closely with local healthcare providers since Dr Nigel Rankin at Middlemore Hospital
first suggested working with our research and development team. That collaboration has gone on to
improve care and outcomes for patients in New Zealand and around the world.

“Locating a major new hospital alongside a world-class research and development campus creates a
strong foundation for innovation in medical technologies. We look forward to working closely with the
new facility in the future,” said Mr Gradon.

Fisher & Paykel Healthcare entered into an agreement in September 2022 to purchase the 105-hectare
site on Karaka Road for its second New Zealand campus. Two scheduled instalment payments have
been made to the vendor, with a final payment of $15 million due in December 2026.

Settlement of the sale to Health NZ is expected between March and June 2027, subject to certain sale
and purchase conditions. The impact of the sale will be reported as an abnormal item in Fisher &
Paykel Healthcare’s income statement. The company’s full-year earnings guidance provided on 21
August 2026 does not include any impact from the transaction.

“We continue to see South Auckland as an attractive location for long-term expansion. This investment
supports our growth aspirations and infrastructure needs,” said Mr Gradon.

About Fisher & Paykel Healthcare

Fisher & Paykel Healthcare is a leading designer, manufacturer and marketer of products and systems
for use in acute and chronic respiratory care, surgery and the treatment of obstructive sleep apnea. Its
products are sold in over 120 countries worldwide. For more information, visit www.fphcare.com.

Contacts:
Media Investors
Karen Knott
GM Corporate Communications
karen.knott@fphcare.co.nz
+64 (0) 21 713 911
Dan Adolph
Head of Investor Relations
daniel.adolph@fphcare.co.nz
+64 (0) 22 511 4050

Authorised by Fisher & Paykel Healthcare Corporation Limited’s Chief Executive Officer.

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The official website of the New Zealand Government
Releases
3 OCTOBER 2026
Land secured for South Auckland hospital
HON SIMEON BROWN
Health
Land has been secured for a future hospital facility on Karaka Road in Drury, marking a significant investment in the long-term healthcare needs
of South Auckland's growing population, Health Minister Simeon Brown says.
"South Auckland is one of the fastest-growing parts of New Zealand, and it's essential that our health infrastructure keeps pace with that growth,"
Mr Brown says.
"Securing this 13-hectare site in Drury gives us the opportunity to plan ahead and ensure we have the space needed for future health facilities
that will serve local communities for decades to come.
"This lays the foundation for better access to healthcare and provides future generations with the infrastructure needed to support quality health
services closer to home."
The $45.3 million site, purchased from Fisher & Paykel Healthcare, is located alongside the future Ngākōroa railway station and adjacent to
State Highway 22, providing strong connections to public transport and key transport routes across the wider region.
"Location was a critical consideration. We wanted a site that would be easy for patients, families, staff, and visitors to access, whether they are
travelling by train, bus, or car," Mr Brown says.
"The site is also adjacent to Fisher & Paykel Healthcare's research and development precinct. This co-location creates opportunities to foster
innovation, attract talent, and encourage complementary private sector investment alongside future public health services.
"With excellent transport links and room for future development, Drury is well positioned to support the healthcare needs of South Auckland as
the area continues to grow."
The Government has asked National Infrastructure Funding and Financing (NIFCO) to lead the work on delivering this project, alongside Health
New Zealand. 
The land will enable Health New Zealand to consider a range of future health infrastructure options, including the potential development of a
major hospital, subject to future planning and investment decisions.
"New Zealanders deserve to be able to access timely, quality healthcare when and where they need it," Mr Brown says.
"By securing this land now, we are ensuring future governments and health planners have the flexibility to develop modern, fit-for-purpose
facilities that can respond to growing demand and changing healthcare needs.
"This is a practical, long-term investment in the health of South Auckland, and an important part of our plan to build a stronger health system."
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