One of the firms also advised the acquirer when it was bought by a Chinese healthcare behemoth in 2015
A trio of top firms are taking lead roles as Healthe Care Australia goes on a consolidation bender, buying ASX-listed Pulse Health and three hospitals from Evolution Healthcare.
Allens advised Healthe Care Australia, while Norton Rose Fulbright advised Pulse Health and King & Wood Mallesons acted for Evolution Healthcare.
Healthe Care, the nation’s third largest private hospital operator, was bought by Chinese healthcare giant Luye Medical in 2015 for $938m. Allens advised private equity firm Archer Capital, which owned Healthe Care, on that deal, which closed last year.
Healthe Care is acquiring Pulse by way of scheme of arrangement for $0.47 per share, amounting to an equity value for Pulse of $120m. In a separate concurrent transaction, Healthe Care also acquired three Illawarra region hospitals from Evolution for $53m. The Evolution deal closed on 13 April, while the Pulse scheme was implemented Tuesday after receiving court, shareholder, and regulatory approvals.
The Allens team was led by M&A partner Tom Story and competition partner and chairman of the firm, Fiona Crosbie. The team included M&A counsel Andrew Wong, competition senior associate James Kerr, and lawyers Alistair Stolz and Jewel Zhu.
The Norton Rose Fulbright team was led by James Stewart, a corporate partner based in the firm’s Melbourne office.
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Allens advised Healthe Care Australia, while Norton Rose Fulbright advised Pulse Health and King & Wood Mallesons acted for Evolution Healthcare.
Healthe Care, the nation’s third largest private hospital operator, was bought by Chinese healthcare giant Luye Medical in 2015 for $938m. Allens advised private equity firm Archer Capital, which owned Healthe Care, on that deal, which closed last year.
Healthe Care is acquiring Pulse by way of scheme of arrangement for $0.47 per share, amounting to an equity value for Pulse of $120m. In a separate concurrent transaction, Healthe Care also acquired three Illawarra region hospitals from Evolution for $53m. The Evolution deal closed on 13 April, while the Pulse scheme was implemented Tuesday after receiving court, shareholder, and regulatory approvals.
The Allens team was led by M&A partner Tom Story and competition partner and chairman of the firm, Fiona Crosbie. The team included M&A counsel Andrew Wong, competition senior associate James Kerr, and lawyers Alistair Stolz and Jewel Zhu.
The Norton Rose Fulbright team was led by James Stewart, a corporate partner based in the firm’s Melbourne office.
Related stories:
US firms dominate global M&A as businesses make fewer – but bigger – deals
M&A boom predicted as Australia recovers from metals and mining sector slump
