Real estate investment trust (Reit) Growthpoint Healthcare Property Holdings (GHPH) is nearing the completion of a R60-million expansion of the Busamed Gateway Private Hospital in Umhlanga Ridge, KwaZulu-Natal.
This investment forms part of the GHPH’s strategy to grow and upgrade South Africa’s private healthcare infrastructure. Managed by fund manager Growthpoint Investment Partners, the GHPH has about R7.3-billion in assets under management across a portfolio of licensed healthcare facilities.
Busamed Gateway Private Hospital has been operational since January this year and the hospital has opened a new 18-bed unit, with 12 intensive care unit (ICU) beds and six high care beds. A new 30-bed adult ward, including six isolation units, is under construction and expected to open in the third quarter of this year.
“The expansion of Busamed Gateway Private Hospital reflects exactly the kind of value-creating investment the GHPH seeks to make. By partnering with world-class operators such as Busamed, we are expanding hospital capacity in Umhlanga and the broader KwaZulu-Natal region while building the healthcare infrastructure South Africa needs,” says GHPH fund manager Farhana Russell.
Busamed Gateway Private Hospital hospital manager Rafeek Nakooda says this investment would also significantly strengthen the hospital’s ability to provide specialised critical care services to the region.
