Assuta Medical Centers, owned by Maccabi Health Services, will open a new medical center in the Ra'anana industrial zone, sources inform "Globes." Assuta wants to have two operating rooms in the new center for relative simple procedures, such as ophthalmology surgery. As of now, however, it has been learned that the Ministry of Health does not intend to grant Assuta a license for this. This means that without a change in the Ministry of Health's policy, the new center will be used for specialist clinics and imaging institutes (CT scans, X-rays, etc.).
Assuta recently signed a long-term lease with REIT Sella Capital Real Estate Ltd. (TASE: SLARL), owner of the Taya Center on Haroshet St. in Raanana, near the Renanim shopping mall. Under the lease, Assuta will rent 4,000 sq.m. of the 16,000 sq.m. in the building for its new center. As part of the agreement, Assuta will rent the space for 10 years, with three extension options totaling 25 years), for NIS 2.3 million a year. Sella Capital expects additional revenue from the parking lot on the site. The agreement also requires Sella Capital to invest NIS 3 million in the building, while Assuta will invest NIS 7,000 per sq.m. in adjustments. Sella Capital bought the Taya center from Taya Investment Co. Ltd. (TASE: TAYA), headed by Ami Giniger, in 2007 for NIS 130 million.
The negotiations between the parties were conducted on behalf of Sella Capital by CEO Gadi Elikam and Ra'anana Commercial and Industrial Park head manager Roee Dinovich. The land on which the building is located is currently zoned for industry and workshops. After the parties came to an agreement, the Ra'anana Local Planning and Building Commission recently approved the request for exceptional use of as a medical building for construction of the medical center. "Development and building in Ra'anana is proceeding rapidly, including the entry of new companies into the town and construction of transportation infrastructure that includes two new neighborhood railway stations," said Ra'anana Mayor Zeev Bielski.
The medical center is a significant addition for the industrial park, which has businesses and a variety of high tech companies, including SAP, NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE), HP, etc., as well as the Renanim mall, workshops, restaurants, leisure sites, and so forth.
Assuta Ashdod in 18 months
Assuta is also in the midst of building a hospital in Ashdod that will open in another 18 months in an area covering 17.5 acres. Assuta is investing NIS 250 million in the hospital with credit for half this amount from Bank Leumi (TASE: LUMI). The state has promised to inject NIS 487 million into the project as a grant as part of the tender for building and operating the hospital. Assuta will also be allowed to offer private medical services as 25% of the hospital's operations - an incentive that the Ministries of Finance and Health regret.
Assuta Ashdod, unlike Assuta's private hospitals, will have an emergency and accidents room, and gynecological, obstetrics, pediatric, geriatric departments and more.
Published by Globes [online], Israel business news - www.globes-online.com - on January 1, 2015
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