Northern Beaches Hospital Remains on Track and on Budget; Maintaining FVE for Healthscope
We reiterate our AUD 2.60 per share fair value estimate for narrow-moat Healthscope after a tour of its Northern Beaches Hospital, or NBH, site. Importantly, construction of the AUD 840 million project remains on track and on budget, mitigating two important concerns for the market. Management remains confident the site will be operational on Oct. 30, 2018, able to receive patients on day one from Manly Hospital and Mona Vale, as planned. Closure of these two existing facilities and transfer of ...Healthscope is a private healthcare provider, with 45 private hospitals and 48 medical centres and skin clinics across Australia, as well as 56 international pathology laboratories. Co. is also a provider of pathology services in New Zealand, Singapore and Malaysia. Co.'s reportable segments are Hospitals Australia, which provides management and surgical and non-surgical private hospitals; Pathology New Zealand, which provides pathology services in New Zealand; and Other, which provides pathology services in Malaysia, Singapore and Vietnam and practice management services in medical centres in Australia.
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