ALBURY’S Insight Private Hospital has been sold to a group buying up similar health facilities across Australia.
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The clinic, located within the Gardens Medical Centre, became the latest addition to the Nexus stable of day hospitals for an undisclosed price.
Nexus was established this year when it bought Melbourne’s Manningham Day Procedure Centre, from which 30 eye surgeons operate.
It bought Insight from three surgeons including local orthopaedic surgeon David Kirwan, who was the majority shareholder in the business.
Insight is on the fifth floor of the Gardens Medical Centre.
Nexus chief executive officer Andrew Petering said Insight was an exciting addition to its growing group.
It has also confirmed the purchase of Charlestown Private Hospital in Newcastle.
Mr Petering said the private hospital industry had undergone major changes in the past 15 years.
Issues including evolving regulatory and accreditation requirements and health fund relationships meant lone day hospitals didn’t have a “level playing field” to provide care to patients.
“Existing management and staff can use our group’s scale, depth of experience and latest systems and technology to enhance performance and improve patient care,” Mr Petering said.
“Our aim is for Nexus to be the hospital’s partner of choice for surgeons, including the option for them to be co-owners.
“When doctors have more say in running a hospital we see efficiency and better patient care because doctors know what works and what their patients need.”
Insight will continue to provide its existing range of surgeries including ear, nose and throat; elective; endoscopy; gynaecological; general; orthopaedic and plastic.
Talks with other local surgeons about operating in the Gardens building are under way.
Nexus’ three co-founders are Mr Petering, Geoff Thomson and Scott Bell.
It is backed by mid-market private equity firm Wolseley.