M&A experts act as South Korean and Singaporean companies buy Australia’s fourth-largest fertility services provider
Two firms have acted in the acquisition of Australia’s fourth-largest fertility services provider by a consortium of Asian companies.
Ashurst advised the consortium formed by CHA Healthcare Singapore and Singapore Medical Group in its acquisition of City Fertility Centre, which was advised by HopgoodGanim Lawyers.
In a regulatory filing, CHA said it paid $22.1m for its 52% stake, while Singapore Medical did not disclose how much it paid for its 13% stake. The deal values City Fertility at $42.5m.
The Ashurst team was led by partner Nigel Deed, who was assisted by partners Jennie Mansfield (employment), Tim Brookes (privacy), Anita Cade (IP), and Kenneth Tang (global loans).
Partner Luke Mountford led the HopgoodGanim team. He was supported by more than 15 lawyers from the firm’s private enterprise, employment law, and IP teams in the Brisbane office.
Ernst & Young also advised on the deal, with a team led by partners Milan Milosevic and Matt Weerden.
CHA Healthcare Singapore is part of the CHA Medical Group, one of South Korea’s largest medical groups. Singapore Medical Group is a specialist healthcare provider in Singapore.
The deal is the consortium’s first entry into Australia.