RAM Essential Services Property Fund Acquires AU$23 Million Asset, Divests Three Assets

MT Newswires Live

Feb 19, 2025

RAM Essential Services Property Fund (ASX:REP) said it acquired the Cairns Day Surgery, anchored by Ramsay Health Care (ASX:RHC), at a value of AU$23 million, according to a Wednesday Australian bourse filing.

The deal allows it to further expand its relationship with Ramsay Health Care, the filing said. It is conducting a review of value-add and development opportunities for the asset, to be implemented over the medium term.

The fund is also in exclusive due diligence for a further AU$100 million of private surgical hospitals and healthcare acquisitions anchored by unnamed private hospital operators as well as global medical and life sciences groups.

It added that the sale of Bowen Hills Fertility Clinic in Queensland settled, while the divestments of Parkwood Family Practice and Highlands Health Centre, also in Queensland, reached unconditional status. The gross sale price of these three ex-growth assets came in at AU$27.4 million.

It noted that its capital recycling program is ahead of schedule and now includes 11 divestments, totaling AU$119 million at a cumulative yield of around 5.7%.

The fund's shares were up almost 1% in recent Wednesday trade.

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It is conducting a review of value-add and development opportunities for the asset, to be implemented over the medium term.</p><p>The fund is also in exclusive due diligence for a further AU$100 million of private surgical hospitals and healthcare acquisitions anchored by unnamed private hospital operators as well as global medical and life sciences groups.</p><p>It added that the sale of Bowen Hills Fertility Clinic in Queensland settled, while the divestments of Parkwood Family Practice and Highlands Health Centre, also in Queensland, reached unconditional status. 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It is conducting a review of value-add and development opportunities for the asset, to be implemented over the medium term.The fund is also in exclusive due diligence for a further AU$100 million of private surgical hospitals and healthcare acquisitions anchored by unnamed private hospital operators as well as global medical and life sciences groups.It added that the sale of Bowen Hills Fertility Clinic in Queensland settled, while the divestments of Parkwood Family Practice and Highlands Health Centre, also in Queensland, reached unconditional status. 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