<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Healthscope will become a not-for-profit operator in order to save its suite of hospitals after the company collapsed financially last year.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The announcement comes after Healthscope's lenders rejected a private equity offer for Sydney's Prince of Wales hospital, instead opting to transfer operations of 31 Healthscope hospitals, including Prince of Wales, to a new not-for-profit organisation.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Of the remaining six hospitals, five will be sold, while the other – Northern Beaches Hospital in Sydney – is being transferred into public hands.</span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/australia-weather-rain-and-storms-to-impact-entire-country/c1c681ab-e3b1-4b90-9936-0c52171af944" rel="" target="" title="Huge weather turnaround to bring storms, floods for millions"><strong><span>Huge weather turnaround to bring storms, floods for millions</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Healthscope, owned by Canadian private equity firm Brookfield, </span><a href="https://www.9news.com.au/national/healthscope-receivership-37-hospitals/cb8a53f4-16f9-4b89-a92a-fabca0f85f01" rel="" target="" title="fell into receivership last May as it battled a debt bill worth about $1.6 billion"><span>fell into receivership last May as it battled a debt bill worth about $1.6 billion</span></a><span>.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Receivers say the not-profit deal keeps all of the hospitals open, preventing job losses and increased pressure on the public health system.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Employees will retain their existing terms of employment and recognition of service when they transition to the new organisation by the middle of the year.</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/national/healthscope-hospitals-future-secured-in-deal-national-health-news/1e6efffd-c2a8-42ba-b222-6b5ea19ce0f0" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"We are pleased we can now provide a clear direction to Healthscope patients, employees and communities about the future of their local hospitals," Keith Crawford from receivers McGrath Nicol said in a statement.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"This has been a complex process involving a large number of assets across multiple jurisdictions, and detailed negotiations with many stakeholders.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"We believe the plan announced today for the Healthscope portfolio is in the best interests of all stakeholders, preventing hospital closures and protecting jobs.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"We look forward to continuing to work with the Healthscope team and key stakeholders to ensure the successful implementation of the plan in the interests of patients, employees and the Australian community".</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Healthscope CEO Tina La Spino said the organisation would become the country's largest not-for-profit hospital operator.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"This is a transformative day for our people, our doctors, our patients and the Australian healthcare sector," she said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Our whole organisation has been galvanised by the idea of transforming Healthscope into Australia's largest not-for-profit hospital operator, reinvesting surpluses back into our hospitals and people to continually improve patient care.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"I want to thank our teams and our doctors for their support through what has been a challenging period, and I look forward to the exciting journey we'll take together."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Buyers were found for five of Healthscope's hospitals, including Ramsay Health for Canberra's National Capital Private Hospital in Canberra, Calvary Health for Hobart Private Hospital and Holmesglen Private Hospital in Melbourne, Mater Health for Gold Coast Private Hospital and Day Hospital Partners for Tweed Day Surgery.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>As previously reported, </span><a href="https://www.9news.com.au/national/northern-beaches-hospital-sydney-new-south-wales-australia-chris-minns/85a8ca7c-5b3e-40e7-97b7-8dbad48eb5d2" rel="" target="" title="Northern Beaches Hospital will transition to public ownership"><span>Northern Beaches Hospital will transition to public ownership</span></a><span>.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><em><span>NEVER MISS A STORY:</span></em></strong><span> </span><strong><em><span>Get your breaking news and exclusive stories first by following us across all platforms.</span></em></strong></div></div><div 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