Construction will soon start on a private hospital in Gregory Hills, set to be the first stage of a $500 million health and innovation precinct.
HomeCo (a fund manager) today announced a joint venture with Acurio Health Group to acquire and bring the five-hectare health precinct to the growing region.
A 78-bed private hospital, already approved, is the first step of the sprawling development and will begin construction in October.
HomeCo chief executive and managing director David Di Pilla told the Advertiser there was a real need for more health services in Macarthur.
"The initial phase of [the development] is built around a 78-bed private hospital, run by a group called Acurio," he said.
"That has been driven by significant needs analysis in the area. There are a lot of young families, with the growing population in the LGA, and clearly a need for more hospital beds and increased primary medical needs.
"It's a long drive to Liverpool and other hospitals in the area.
"The site has been state significant planning approval and potential for much larger hospital - potentially a public hospital.
"Once you start to get that critical infrastructure in high-growth area, you can see this becoming a half a billion dollar project."
Acurio will run the private hospital (which will feature 58 overnight, and 20 day beds) under a 15-year lease.
Stages two and three of the project, with planning expected to take shape in the next few years, will see the full medical precinct realised.
Planning approval has already been granted for a mixed-use medical campus, large-scale general hospital and biomedical facility.
HomeCo, under their HealthCo arm, will put at least $70 million into the first stage of the project (expected to be complete in the next 18 months to two years), which will form part of the Gregory Hills Corporate Park.
Mr Di Pilla said he expected the precinct would be a great boost for the region.
"There will be lots of jobs, and clearly opportunities," he said.
"There will be specialist medical and related services, nursing, doctors and all the various allied health services.
"People can live and work much closer to home, which will be a bit of a trend for the future.
"[HomeCo] is investing very significantly in the area - we've already got holdings and own Gregory Hills Town Centre.
"We're big believers in the area and the growth potential."
Acurio Group chief executive Scott Fowler said the group was excited HomeCo had come on board.
"We look forward to partnering with HealthCo to build a world class health precinct in Camden," he said.
"This will start with a private paediatric and maternity hospital with construction due to start this year."
The company's chief strategy officer Robert Lin said the new precinct would be a massive boost to healthcare in Camden.
"We bring to this joint venture years of experience and a team of world-class healthcare experts who understand and are committed to the design, development and delivery of innovative patient-centric care," he said.
"The joint venture accelerates our ability to further elevate healthcare standards for the Camden LGA in delivering the highest quality medical services to the local community."
Gregory Hills Corporate Park director Satwant Calais said he was "very pleased to be handing over this regionally important medical precinct to HealthCo for the phased delivery of the overarching vision that was created over five years ago".