Listed company Wakefield Health is likely to take control of Tauranga's modern Grace Hospital by the end of June. After talking with the controlling Norfolk Investments group, Wakefield has confirmed it will make a takeover offer - subject to a Norfolk shareholders meeting next Tuesday. Wellington-based Wakefield has already received pre-offer commitmentsfor 51 per cent of the Norfolk shares and Wakefield chief executive Andrew Blair was confident a resolution supporting the takeover would be passed at next week's meeting. After that, Wakefield would make a formal offer of $3.53 cents a share, valuing Norfolk's 60 per cent shareholding in Grace Hospital at $22.55 million. The offer to about 50 Norfolk shareholders, mainly surgeons, anaesthetists, retired doctors and former staff, will remain open through to late June. Wakefield would then operate the Tauranga private hospital - one of the country's most modern - in a joint venture with Southern Cross, which has a 40 per cent shareholding. It would be the first time that the major healthcare companies have organised such an arrangement. Mr Blair said Wakefield was looking at a three-way partnership by establishing a consultative forum with the Norfolk shareholders who were doctors working at the hospital. "We want to take their wishes into account. Some of them were concerned they would no longer have any influence. We've undertaken to provide them with a forum and give them direct access to Wakefield," he said. Mr Blair said Grace Hospital had a lot of development potential and Wakefield had access to capital. "We are well placed to take Grace to the next stage of development." Wakefield wanted to look at expanded health services for the Bay - such as a greater range of cancer-related treatments and day surgery facilities. "We will explore other treatments for people who, at present, have to go out of the region," Mr Blair said. Once the takeover is completed, Wakefield will end up operating four private hospitals - Bowen and Wakefield in Wellington, Royston in Hastings, and Grace in Tauranga. Wakefield employs more than 600 people and treats about 18,000 patients annually. Grace Hospital, which opened in Cheyne Rd, Oropi, two and a half years ago, recently completed a $3 million expansion of its radiology wing and installing new MRI and CT scanners. The hospital was designed to double the number of operating theatres to 12 and to add another floor of 40 beds, taking the total to 100. Twelve surgeons built a separate orthopaedic wing at Grace Hospital and they will continue to own that building.
