9 November, 2005.

Pioneer Valley hospital sold to Sydney firm

MACKAY’S population growth and booming economy made Pioneer Valley Private Hospital an attractive investment for the Sydney-based private company that has just bought it.

John Pitsonis, managing director of Community Private Health Care Pty Ltd (which has run Pioneer Valley for eight years) managing director John Pitsonis yesterday announced the hospital had been sold as a going concern to Owen Ferguson Health Hospitals Pty Ltd and Australian Public Trustees Limited. Settlement will take place next Monday.

"We have constantly had applications from businesses wanting to know whether we were interested in selling but in the last 12 months we have had several fairly active offers," Mr Pitsonis said.

"Mackay is a buoyant, dynamic local economy. In terms of healthcare, there are a range of services that are and that are not being provided in the area.

"As the population grows, the healthcare needs also to escalate — there are huge opportunities for companies wanting to invest in health care in regional areas, particularly growing areas like Mackay."

Owen Ferguson, who owns Canada Bay Private Hospital in Sydney and is building Lismore Private Hospital in northern New South Wales, will operate the hospital from Monday.

Mr Pitsonis yesterday moved to allay fears the sale would have any negative impact on patients or staff.

He said all staff — more than 100 people — had been offered jobs under the new management and patient care would remain unchanged.

The hospital was established and originally owned by a large group of Mackay doctors in the 1970s.