Australian Unity executive to retire

A long-serving Australian Unity executive, who has been instrumental in developing of a $2.8 billion trust, is bidding farewell to the organisation after 25 years, as he prepares for retirement.

Australian Unity general manager, property Chris Smith will retire after joining the firm in 2001.

He played a significant role in the growth and development of the Australian Unity Healthcare Property Trust, and has expanded the trust from eight healthcare properties into a portfolio of 74 hospitals, aged care facilities, medical centres and other healthcare properties.

Over the past 18 months, Australian Unity has established a new leadership structure for the trust, which is currently led by executive general manager, fund management Viji Yogavaran, who joined the firm in January 2025 and head of direct property Scott O'Donoghue, supported by a 19-member real estate team.

Commenting, Australian Unity chief executive wealth and capital markets Balaji Gopal noted Smith had made a remarkable contribution to Australian Unity and the broader healthcare property sector.

"For more than 20 years, Chris has helped build the Healthcare Property Trust into one of Australia's leading healthcare property vehicles, playing a key role in the development and management of hospitals, medical centres, aged care facilities and healthcare infrastructure our communities need," Gopal said.

"Chris' contribution also extends well beyond the portfolio, having built strong relationships with investors, healthcare operators, partner, and colleagues.

"Chris has played an important part in building our presence in the sector and I thank him for his contribution and wish him all the very best for his retirement."

Gopal highlighted health property investments continue to be one of Australian Unity's core competitive strengthens.

"It is an investment sector suited to our mutual structure where we bring patient capital to vital infrastructure that supports the wellbeing of communities," he said.

Smith said it had been a privilege to have played a part in the growth of the trust.

"I want to particularly acknowledge the thousands of investors in the Trust who have supported its growth and investment in Australia's healthcare infrastructure for more than two decades," he added.

The Healthcare Property Trust returned -4.72%, -4.73%, and -4.75% in the 12 months to September 30 for Class A, retail units, and wholesale units, respectively.

Additionally, the organisation undergone several significant changes across its executive team and board throughout the year, including a new chief executive for home health, deputy chair, chief of staff, group executive for customer and marketing, as well as Gopal who joined in August.

Earlier this year, it also reduced its workforce by 195 positions due to underperformance stemming from delays in government support for its home health platform and the integration of several businesses.