Major firm acts on $225m takeover

A major firm has acted on a key healthcare provider’s takeover bid.

Major firm acts on $225m takeover
Norton Rose Fulbright has advised Pulse Health, a private hospital and surgery centre operator, on its $255m bid for Vision Eye Institute.

In a proposal to acquire all of the ordinary voting shares, Pulse told the ASX the merger would create a leading healthcare provider.

“We believe the merger creates a compelling opportunity for both Vision and Pulse shareholders through the creation of one of Australia’s leading providers of specialist healthcare services, with a broad network of niche hospitals, surgery centres and ophthalmic practices,” Pulse chairman Stuart James told the ASX.

Leading the Norton Rose Fulbright team advising on the bid was partner James Stewart who said the bid is significant step for Pulse in its expansion.

“It is pleasing to assist in Pulse pursuing its strategy for growth in the Australian health market, with a deal that has the potential to cement its prominence as a top specialist healthcare provider,” said Stewart.

The bid is the latest development in what has been an active year for the healthcare sector, which has seen the acquisition of Healthscope’s major Australian pathology business by a private equity company last month and AMP’s billion dollar acquisition of Sydney’s Royal North Shore Hospital earlier this year.

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