Health Minister Officially Opens Vital’s Latest Successful Development – Wellington’s Wakefield Hospital

Wakefield Hospital in Wellington was officially opened by Minister of Health Simeon Brown today, marking a significant health and infrastructure investment that will enhance and increase services for the wider community.

The over $170 million redevelopment of Wakefield Hospital was delivered through a partnership between Vital Healthcare Property Trust (who funded 83% of the investment) and healthcare service provider Evolution Healthcare (who funded the balance and operates the hospital). Vital is the only specialist landlord of healthcare property listed on the NZX and is 70% owned by New Zealand investors (including KiwiSaver funds as well as ACC which owns approximately 8% of Vital).

“A mixed public and private model like we have in New Zealand, and which we see in most of the healthcare markets we would like to emulate, like Australia and Singapore, provides universal access to basic healthcare from a mix of public and private providers, whilst also allowing individuals to opt for additional, potentially faster or more specialised care,” says Aaron Hockly, head of Vital. “In this model, the private sector provides additional capacity to the health system, reduces the burden on public finances, and promotes improved accessibility, choice, and quality of healthcare.”

The redeveloped Wakefield Hospital features an impressive five-story structure encompassing a range of cutting-edge technology and amenities including base isolation to assist with seismic performance.

An increase in operating theatres within the new facility will enable Wakefield Hospital staff and specialists to treat approximately 20% more patients, significantly enhancing its capacity from 8,000 to an estimated 9,500 patients annually.

The hospital offers:

• Two cardiac cath labs.
• Two endoscopy / operating theatres.
• Seven fully digital operating theatres with AirFRAME and Indigo-Clean technology.
• 10 ICU/HDU bed ward.
• Spacious and modern recovery areas.
• 53-bed inpatient ward with ensuites and whānau areas + future proofed for another 16 on level 5.
• Spacious day of admissions area.
• Creation of additional carparking spaces for patients.
• Improved pedestrian access and landscaped gardens.
• Electric vehicle charging stations and ample bike racks for cyclists.
• Hotel like features in the inpatient rooms
• Full kitchen for patients and staff meals
• Clinical Sterilisation Department (CSD) using the latest equipment, and which will meet the latest sterilisation standards AS/NZ5369
• ARTIS-icono-ceiling – a first for NZ. Cardiac angiography equipment for image-guided minimally invasive therapy. Constant image quality with significant dose reductions.

Including Wakefield Hospital, Vital owns a $3.2 billion portfolio of healthcare assets across Australia and New Zealand.

It has been expanding its New Zealand asset base through acquisitions and developments over recent years with its total investment in this country now exceeding $1 billion. Its New Zealand facilities have over 370 licensed hospital beds with over 65 operating theatres and procedures rooms that have provided over 300,000 hospitals admissions during the last five years, with over 100,000 of these funded by Health New Zealand or ACC.

“All of these facilities provide significant community benefit for New Zealanders and help take pressure off the public system whether it be through Health New Zealand funded patients, ACC funded patients or privately funded patients. Vital’s research and our experience with healthcare markets globally highlights the value of a strong private healthcare market to complement public health services,” says Mr Hockly.

Vital’s tenants include Health New Zealand Te Whatu Ora, Mercy Ascot, Southern Cross and Evolution. It owns large hospitals in major cities such as Ascot Hospital in Auckland, Boulcott Hospital in Lower Hutt as well as regional hospitals such as Kensington Hospital in Whangarei, Royston Hospital in Hawke’s Bay and Southern Cross Central Lakes Hospital in Queenstown.

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