QIC’s Global Infrastructure Fund (“QGIF”) and QGIF co-investors have acquired a c.75% equity interest in Nexus Hospitals (“Nexus”), Australia’s second largest day hospital platform which owns a portfolio of day and short-stay hospitals across six states and territories in Australia. An investment in Nexus is a compelling, diversifying opportunity for QGIF. The business provides the medical infrastructure across a broad range of low acuity, non-emergency, largely non-elective surgeries for doctors, making it a true essential services provider.
Nexus represents the first social infrastructure investment for QGIF in the healthcare sub-sector and was acquired through a bilateral process which leveraged our strong network of relationships.
QIC Global Infrastructure’s sector centric, thematic approach to investing identified the healthcare sub-sector as an attractive focus area. Long term trends are driving robust growth in demand for healthcare services globally. Ageing demographics, the changing nature of disease, public funding pressures, technological change and decentralisation underpin this strong demand particularly for day and short-stay surgery, and are expected to continue over coming decades.
Mr Ross Israel, Head of Global Infrastructure, QIC, said, “We are very pleased to complete the acquisition of Nexus, as it represents the culmination of significant research and analysis by our team into the long-term healthcare megatrends. From this work we identified day and short stay hospitals as demonstrating the relative value and diversification merits we were seeking to add to QGIF’s portfolio from the healthcare sector. Macro factors and technological advancements underpin an attractive growth profile for the platform. We are looking forward to working with the Nexus CEO, Andrew Petering, and his high calibre team to further position the company at the forefront of structural change in the industry and to deliver more affordable, high quality healthcare outcomes to Australians.”
This asset joins a high quality portfolio including the Port of Melbourne, the Powering Australian Renewables Fund, Lochard Energy (which owns and operates the Iona Gas Plant), Boston-based MasParc and Mobility, Hobart International Airport, Sea Swift and Brussels Airport².
For further reading on this fascinating sub-sector, please click here to access QIC Global Infrastructure’s recent Red Paper ‘Social infrastructure: Identifying future healthcare requirements and their infrastructure investment characteristics’.
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ABOUT QIC
QIC is a long-term specialist manager in alternatives offering infrastructure, real estate, private capital, liquid strategies and multi-asset investments. It is one of the largest institutional investment managers in Australia, with A$81 billion (US$54 billion) in funds under management1. QIC has over 1,000 employees and serves more than 110 clients. Headquartered in Brisbane, Australia, QIC also has offices in Sydney, Melbourne, New York, Los Angeles, Cleveland, San Francisco, London and Copenhagen.
For more information, please visit: www.qic.com. 1As at 30 September 2019.
About QIC Global Infrastructure
QIC is a long-term infrastructure investor with an established global platform, an active management approach and a proven, 13-year track record. With a global team of over 40 professionals, QIC Global Infrastructure manages A$15.5 billion across 19 global direct investments and has realised a further A$7.2 billion of investments for its clients2. Its sector centric investment strategy deconstructs risk across sector value chains identifying relative value for investment. This drives a targeted origination approach, enabling the firm to build diversified portfolios for its clients.
2All data as at 30 September 2019 and includes remaining transactions scheduled to reach financial close in Q4 2019.
For further information, please contact:
Stuart Barton,
Bluechip Communications
T +61 449 533 085
E stuart@bluechipcommunication.com.au
QIC Limited ACN 130 539 123 (“QIC”) is a wholesale funds manager and its products and services are not directly available to, and this document may not be provided to any, retail clients. QIC is a company government owned corporation constituted under the Queensland Investment Corporation Act 1991 (Qld). QIC is regulated by State Government legislation pertaining to government owned corporations in addition to the Corporations Act 2001 (Cth) (“Corporations Act”). QIC Private Capital Pty Ltd (“QPC”), a wholly owned subsidiary of QIC, has been issued with an AFS licence and other wholly owned subsidiaries of QIC are authorised representatives of QPC. QIC’s subsidiaries are required to comply with the Corporations Act. QIC does not hold an Australian financial services (“AFS”) licence and certain provisions (including the financial product disclosure provisions) of the Corporations Act do not apply to QIC. QIC also has wholly owned subsidiaries authorised, registered or licensed by the United Kingdom Financial Conduct Authority (“FCA”), the United States Securities and Exchange Commission (“SEC”) and the Korean Financial Services Commission.
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