Ramsay Health Care (ASX:RHC) confirms that it has finalised the comprehensive agreement with the State of Victoria to make its facilities and services available during the COVID-19 pandemic.
The Agreement supersedes the Heads of Agreement under which the State and Ramsay have been operating since 1 April 2020.
In the event of an increase in COVID-19 cases, the State can ‘restart’ the operation of the Agreement for a further term if it needs to mobilise additional health resources and facilities.
In return for its commitment to use reasonable endeavours to maintain full workforce capacity at its facilities, Ramsay will receive net recoverable costs for its services.
Discussions with the State Governments of New South Wales, Queensland and Western Australia to finalise agreements for those States continue.
Shares in Ramsay Health Care (ASX:RHC) are trading 0.34 per cent lower at $62.09.