Ramsay Health Care Australia has targeted one of the country's fastest growing population areas for its latest hospital project.
It is investing $133 million to build and run Northern Private Hospital, catering to people in Melbourne's northern suburbs.
The facility will be constructed on a greenfield site in Epping, the last major growth corridor in Victoria without a private hospital.
It is planned to open in two stages: the first is due to be completed in 2024 and the second in 2027.
Ramsay's Chief Business Development Officer Alex Belcastro said the announcement had come after three years of extensive planning and approvals.
"This development is widely considered to be the most meaningful greenfield growth opportunity in Victoria and will offer patients in Melbourne's northern suburbs access to high-quality healthcare in a private setting close to their homes," Ms Belcastro said.
Northern Private will be built on land next to a 500-bed public hospital to ensure patients have access to a comprehensive range of healthcare services.
The Victorian Government has supported the construction of a link bridge to connect it with the public Northern Hospital, which has one of the busiest emergency departments in the state and is being majorly redeveloped to cope with demand.
Ramsay is Australia's largest private healthcare provider and operates 72 hospitals and day surgery units across the country.
Northern Private will deliver extensive medical, surgical and mental health services, with specialties including general medicine, cardiology, vascular, orthopaedics, plastics, ENT, general surgery, gynaecology, urology, oncology, haematology, ophthalmology and gastroenterology.
"The City of Whittlesea's population is forecast to grow by 71 percent between 2018 and 2041, so this will provide much-needed treatment options for people living in these communities," Ms Belcastro said.