Toronto, Ontario–(Newsfile Corp. – May 26, 2025) – Northwest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) (the “REIT” or “Northwest”), a leading owner and operator of healthcare real estate infrastructure in North America, Brazil, Europe and Australasia, provides an update on Healthscope, the REIT’s second largest tenant. <\/p>\n
On Monday, May 26, 2026, Healthscope’s parent entities entered receivership, with its lenders appointing McGrathNicol Restructuring to work with Healthscope management to complete an orderly sale of the business. <\/p>\n
The operational business, which runs the hospitals, is not in receivership. Healthscope management remains in place and focused on patient care.<\/p>\n
Healthscope’s announcement indicated that McGrathNicol’s intention is to “transition all hospitals to new ownership, with no plans for hospital closures or redundancies”. <\/p>\n
According to Healthscope, McGrathNicol has been provided with a new $100 million funding package by Commonwealth Bank of Australia to support operations during the sale process. This is in addition to Healthscope’s current cash balance of $110 million. A copy of Healthscope’s May 26, 2025 news release is linked here<\/a>.<\/p>\n Northwest intends to work with McGrathNicol and potential bidders as the sale process continues. <\/p>\n As of today, all rent owing to the REIT from Healthscope (other than the rent subject to rent deferral arrangements disclosed in the REIT’s May 14, 2025 press release) has been paid and Healthscope continues to meet all lease obligations.<\/p>\n About Northwest<\/p>\n Northwest provides investors with access to a portfolio of high-quality international healthcare real estate infrastructure comprised as at May 14, 2025, of interests in a diversified portfolio of 169 income-producing properties and 15.8 million square feet of gross leasable area located throughout major markets in North America, Brazil, Europe, and Australasia. The REIT’s portfolio of medical outpatient buildings, clinics, and hospitals is characterized by long-term indexed leases and stable occupancies. Northwest leverages its global workforce in eight countries to serve as a long-term real estate partner to leading healthcare operators. For additional information please visit: www.nwhreit.com<\/a>.<\/p>\n Contacts:<\/p>\n Craig Mitchell, CEO, Craig.Mitchell@nwhreit.com<\/a>,<\/p>\n Stephanie Karamarkovic, CFO, Stephanie.Karamarkovic@nwhreit.com<\/a>,<\/p>\n Alyssa Barry, Investor Relations, Alyssa.Barry@nwhreit.com<\/a>, investors@nwhreit.com<\/a>, (416) 366-2000 Ext. 2202<\/p>\n Forward-Looking Statements<\/p>\n This press release contains forward-looking statements with respect to the REIT, its operations, strategy, financial performance and condition. These statements generally can be identified by words such as ‘may’, ‘will’, ‘expect’, ‘estimate’, ‘anticipate’, ‘intends’, ‘believe’, ‘normalized’, ‘contracted’, or ‘continue’ or the negative thereof or similar variations. <\/p>\n Forward-looking statements in this press release include statements concerning Healthscope’s receivership filing, the ongoing operation of the Healthscope business, the potential sale of the Healthscope business, the REIT’s intention to work with McGrathNicol and potential bidders for the Healthscope business, and Healthscope’s rent deferral arrangements with the REIT. Actual results and performance discussed herein could differ materially from those expressed or implied by such statements. <\/p>\n The forward-looking statements contained in this news release are based on assumptions that may prove incorrect, and that could cause actual results or events to differ materially from the forward-looking statements. Such assumptions include assumptions relating to the continued operation of the Healthscope hospitals (both pending and following a sale) and Healthscope’s ability and willingness to pay its deferred rent and future rent in accordance with its agreements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including the risk that the Healthscope receivership and\/or sale process results in its leases with the REIT being terminated or renegotiated on terms less favourable to the REIT, and the risks described under ‘Risks and Uncertainties’ in the REIT’s most recent Annual Information Form and MD&A, which are available on SEDAR+ at www.sedarplus.ca<\/a>.<\/p>\n These cautionary statements qualify all forward-looking statements attributable to the REIT and persons acting on its behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release, and, except as expressly required by applicable law, the REIT assumes no obligation to update such statements.<\/p>\n<\/p>\n