Hospitals in lease agreement

THE Port Moresby Private Hospital Ltd has signed a long-term lease agreement with Pacific International Hospital Ltd for the use and development of the Port Moresby Private Hospital.
The Port Moresby Private Hospital Ltd is wholly owned by the Independent Public Business Corporation.
The hospital was completed in 2000 at a cost of about US$12 million (K25.34 million) with the expectation that it would operate at international standards.
But it had never been commissioned and made operational.
IPBC managing director Thomas Abe, who is a director of the private hospital, said the lease was an important step in the revitalisation of the site and the development of the hospital.
“IPBCs desire is to ensure that these assets are used for the purposes for which they were constructed,” he said.