Firm advises a private hospital operator on the sale of its pathology business
MinterEllisonRuddWatts has advised private hospital operator Healthscope on the $550m sale of its pathology business in New Zealand to the New Zealand Superannuation Fund (NZ Super) and the Ontario Teachers’ Pension Plan (OTPP).
The deal is expected to close in the next six months, with each company taking a 50% stake in the Asia Pacific Healthcare Group (APHG).
Corporate partner Mark Forman led the transaction. The team also included partners Steve Gallaugher, Tom Maasland, and Andrew Ryan, senior associates Igor Drinkovic, James Marriner, Vanessa Hunter, and Brendon Prebble, and solicitor Brad Cope.
Forman said that the transaction is a “substantial investment in a key participant in the New Zealand healthcare sector… and is consistent with Healthscope’s long-term strategic refocus on its Australian hospital operations.”
APHG provides pathology services to three-fourths of New Zealand’s population with more than 2,000 staff operating across its network of 25 laboratories and 150 collection centres. It has been heavily involved in providing testing as part of New Zealand’s response to the COVID-19 pandemic.