Wakefield hospital gets nod to buy Bowen

Listed Wellington company Wakefield Hospital has been cleared to acquire local counterpart Bowen Hospital.

The company said it had received Commerce Commission approval to acquire Bowen's business and assets, and the now-unconditional purchase was due to be settled on April 1.

Bowen has agreed to sell its Crofton Downs site and hospital buildings to Wakefield for $5 million.

Both are private hospitals providing secondary and tertiary elective surgery.

Shares in Wakefield last traded at $1.41, off a year high of $1.60 and a low of $1.15.

- NZPA