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HealthCo Healthcare & Wellness REIT (ASX:HCW) has been weighed down by the receivership of its major tenant Healthscope. In July 2026, Seneca argued that if Healthscope's hospitals are re-tenanted to an alternative operator, HealthCo's dividend should be reinstated, creating upside. Blackwattle described HealthCo as a major landlord to Healthscope, noting share price swings as the receivership progressed, and Phoenix Growth Fund has been buying the REIT well below its net tangible asset value, viewing it as materially undervalued. HealthCo operates in the Real Estate sector within the Equity Real Estate Investment Trusts industry, and Thesis Tracker has captured 7 comments from 4 fund managers, including Seneca, Blackwattle and Phoenix Growth Fund. Founded in 2021 and based in Sydney, HealthCo is a REIT managed by HMC Capital that owns hospitals, medical centres, aged care, childcare and research facilities across Australia, with Healthscope hospitals forming a significant part of its rent roll.
Company figures as of 15 Oct 2026. For information only.
Fund managers including Oracle Advisory Group, Blackwattle Investment Partners, Phoenix Growth Fund and Seneca Financial Solutions have invested in Healthco Healthcare and Wellness Reit (ASX:HCW).
Seneca and Phoenix highlight a large discount to net tangible assets and the potential for dividends to resume if Healthscope's hospitals are re-leased to new operators.
Blackwattle notes HealthCo's exposure to Healthscope's receivership creates uncertainty over rental income, which led to suspended distributions and share price volatility.
HealthCo Healthcare & Wellness REIT (HCW) is a Sydney-based managed investment scheme founded in 2021. The REIT invests in a diversified portfolio of healthcare and property assets. Key sectors include hospitals, aged care, childcare, government, life sciences, research, primary care, and wellness facilities, alongside other healthcare-related adjacencies. HCW provides investors with exposure to essential social infrastructure and property assets across Australia.
General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.
11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.