Tuesday 30 January 2024
Pegasus Health joint venture with rūnanga to purchase Lincoln Medical
Paenga Kupenga Ltd, Taumutu Partnerships Ltd (the economic arms of Ngāi Tūāhuriri and Te Taumutu Rūnanga) and Pegasus Health (Charitable) Ltd have set up a venture and are purchasing Lincoln Medical Centre.
Paenga Kupenga, Taumutu Partnerships and Pegasus Health share a commitment to developing a sustainable primary care network in Waitaha, that delivers excellent care, equity and access to health care for Māori and priority populations.
Pegasus has a history of investing in organisations across the health system. Our investments aim to make us a more sustainable provider of primary health care services and to underpin our charitable purpose and commitment to equity.
By investing in practices, we help to ensure there continues to be a vibrant and sustainable primary care practice network in Waitaha.
We are beginning with practice investments that are aligned to our purpose and role. As the returns from our investments grow, we will be able to invest sustainably in community programmes with a focus on equity and access to healthcare.
Lincoln Medical Centre was chosen as the first practice in our portfolio as it is a sustainable business which delivers excellence in primary care, providing us with an opportunity to explore and develop practice ownership while learning from its owners and wider team (who are staying on).
We are fortunate to have this opportunity to partner with Paenga Kupenga Ltd and Taumutu Partnerships Ltd. This will enable us to build a stronger relationship and connections with mana whenua as we work together to improve access to health for Māori and priority populations.
We will explore further purchase of practices in the future, where it fits with our partnership approach and make sense in terms of our broader strategy. However, our supply of investment capital is limited, and we must continue to ensure we have resources to deliver on our wider charitable objectives before considering further investment opportunities.
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