Healthscope

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Healthscope
Type Public (ASX:HSP)
Founded 1985
Headquarters Parkville, Victoria, Australia
Key people Bruce Dixon (CEO), Kevin McCann (Chairman)
Website http://www.healthscope.com.au/

Healthscope is an Australian private hospital operator which also operates a pathology business. The company is headquartered in Melbourne in the suburb of Parkville. The company operates medical/surgical hospitals as well as a number of psychiatric and rehabilitation clinics.

Contents

[edit] History

Healthscope was founded in 1985 to acquire The Melbourne Clinic, a psychiatric facility in the Melbourne suburb of Richmond. The company has since grown mainly through building and acquiring hospitals. It went public on the Australian Stock Exchange in 1994 in order to fund the A$75m acquisition of six hospitals in Adelaide and one in Darwin from SGIC, an insurance company. During 2004 and 2005 the company underwent a strong growth phase. Healthscope got into the pathology business in late December 2004 with the acquisition of the Gribbles Group, formerly a publicly listed pathology company. In May 2005 it acquired another Australian publicly listed hospital operator, Nova Health. Also in May 2005 the company acquired a Singapore pathology company called Quest. In September 2005 it announced the acquisition of the Affinity group of hospitals. In October 2005 it acquired Primary Care Skin Cancer Clinic Group, a network of skin cancer clinics. And in December 2005 the company acquired the Sydney pathology company Davies Campbell de Lambert.

[edit] Medical/Surgical Hospitals owned or operated prior to November 2005

Healthscope owns or operates 22 medical/surgical hospitals in Australia

In Adelaide Healthscope operates five hospitals - Modbury Public at Modbury, Parkwynd Private in downtown Adelaide, The Ashford Hospital at Ashford, Flinders Private at Bedford Park and The Memorial Hospital in North Adelaide. Modbury and Parkwynd came into the Healthscope portfolio in the 1994 SGIC deal, while Healthscope has managed Ashford, Flinders and The Memorial since 2003.

In Melbourne Healthscope owns four hospitals - Bellbird Private at Blackburn (acquired from the receivers in 1994), two hospitals at Bundoora, Northpark Private (acquired from Mayne in November 2001 - this hospital also offers a 33 bed inpatient unit and outpatient psychiatric services) and La Trobe Private (acquired in early 2003), and Knox Private Hospital.

In the Sydney metropolitan area the company owns the Sydney Southwest at Liverpool (acquired from the receivers in February 2002) and Mosman Private at Mosman on Sydney's North Shore (acquired from Mayne in 2003). Both facilities also provide psychiatric services.

In Brisbane Healthscope owns Peninsular Private in Kippa Ring and Pine Rivers Private at Strathpine (both acquired from the same vendor in May 2002 - Pine Rivers Private had formerly been known as Riverview Private) and River City Private at Auchenflower (a hospital opened by Nova Health in September 2004). The so-called 'Dixon unit' of Pine Rivers Private also provides psychiatric services. Peninsular Private offers various rehabilitation services.

On the Queensland Gold Coast the company two hospitals at Southport, Allamanda Private and Pacific Private. Both were acquired in the Nova Health merger.

In Canberra, Hobart and Darwin Healthscope owns, respectively, National Capital Private (acquired from Mayne in 2003), Hobart Private Hospital (also acquired from Mayne at the same time as National Capital Private) and Darwin Private (acquired in the 1994 SGIC deal).

Outside the major Australian metropolitan areas Healthscope owns Geelong Private at Geelong in southern Victoria (acquired from Mayne in 2003), Dubbo Private at Dubbo in western New South Wales (acquired from the U.S. company Sun Healthcare in April 2001), North West Private at Burnie in northern Tasmania (one of Healthscope's earliest hospitals, having been built by the company in the late 1980s and opened in 1988) and Brisbane Waters Private at Woy Woy on the New South Wales Central Coast (acquired with Nova Health).

[edit] Specialist Hospitals and Clinics

Healthscope owns or operates three psychiatric clinics in Victoria - The Melbourne Clinic as well as The Geelong Clinic in St Albans Park (acquired in 1986 - originally this was the Bellarine Private Hospital and became The Geelong Clinic in the late 1990s) and The Victoria Clinic in Prahran (which had originally been Victoria House until acquired by Healthscope in 2001). Northpark Private Hospital (Bundoora) has also recently expanded psychiatry to a 33 bed inpatient unit, and expanding day patient services.

In New South Wales Healthscope owns The Sydney Clinic in Bronte (acquired May 2001) while at Currumbin on the Queensland Gold Coast Heathscope owns The Palm Beach Currumbin Clinic (also acquired from Sun Healthcare in April 2001).

Healthscope offers rehabilitation services at five hospitals - Lady Davidson Private in the Sydney suburb of North Turramurra, Griffith Rehabilitation at Hove in Adelaide (acquired in 1994), and three hospitals in Melbourne - Ivanhoe Private (acquired in February 1999 - this hospital, at Ivanhoe, also houses a specialist addiction treatment facility called the Victorian Addiction Centre), Olympia Private (Thornbury, acquired at the same time as Ivanhoe) and the Victorian Rehabilitation Centre (Glen Waverley).

In Hobart Healthscope's St Helen's Private Hospital (acquired from Mayne in 2003) provides, in addition to psychological medicine, mother and baby care, and IVF.

[edit] Day surgeries

Healthscope owns two day surgeries - the Allamanda Surgicentre at Southport on the Gold Coast, and Tweed Day Surgery at Tweed Heads in northern New South Wales. Both day surgeries were acquired with Nova Health.

[edit] The Affinity hospitals

In 2005 Ramsay Health Care, a competing private hospital operator, bought a suite of hospitals from Mayne that operated under the 'Affinity' brand. Competition regulators forced the divestment of some of these hospitals and Healthscope bought 14 of them in November 2005.

In this deal Healthscope acquired four hospitals in Sydney - the abovementioned Lady Davidson, The Hills Private in Baulkham Hills, Prince of Wales Private at Randwick and Nepean Private at Kingswood.

Most of the acquired Affinity hospitals, however, were located in Melbourne. They were Cotham Private in Kew, Como Private in Parkdale, Knox Private in Wantirna, Melbourne Private in Parkville, John Fawkner Moreland Private in Coburg, Ringwood Private in East Ringwood and two Victorian Rehab Centres - that at Glen Waverley as well as another at Pascoe Vale also known as Dorset Private.

Healthscope also acquired The Mount Hospital in Perth and Sunnybank Private in the Brisbane suburb of Sunnybank.

[edit] Recent acquisitions

In April 2006 Healthscope acquired Newcastle Private Hospital in the New South Wales city of Newcastle.

[edit] Management

Healthscope's CEO is Bruce Dixon, who joined the company in 1997. He was previously head of a division of the Spotless Group. The company's Chairman is Kevin McCann, a lawyer.

[edit] Ownership

Healthscope is a public company whose stock is traded on the Australian Stock Exchange under the stock code HSP. The company completed an Initial Public Offering in 1994 when it raised A$70 million by issuing 40 million shares at A$1.75 each. Today Healthscope stock is part of the S&P/ASX 200 Index.

[edit] External links

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