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Healthe Care embarks on major acquisitions
The Australian private hospital operator has acquired an ASX-listed company, in addition to three hospitals located in the Illawarra region of New South Wales.
Emma Musgrave
Firm: Allens (Healthe Care Australia); Norton Rose Fulbright (Pulse Health); King & Wood Mallesons (Evolution Healthcare)
Value: $173 million
Key players: The Allens legal team comprised of M&A partner Tom Story, competition partner and chairman Fiona Crosbie, M&A counsel Andrew Wong, competition senior associate James Kerr and lawyers Alistair Stolz and Jewel Zhu.
Deal significance: Healthe Care Australia is an Australian private hospital operator and a wholly owned subsidiary of the Chinese-owned Luye Medical, while Pulse Health is an ASX-listed company.
Healthe Care will acquire Pulse by way of scheme of arrangement for $0.47 per share – an equity value for Pulse of $120 million, according to a statement from Allens.
In a separate transaction, Healthe Care also acquired three hospitals in the Illawarra region from Evolution Healthcare for a total value of $53 million.
The Pulse scheme was complicated by the commonality of interests between certain stakeholders in Evolution and a substantial shareholder of Pulse, requiring supplementary disclosure to Pulse shareholders, the firm said.
Allens M&A partner Tom Story said the firm was delighted to assist Healthe Care in its latest transactions.
“We are pleased to have assisted Healthe Care to successfully navigate the challenges associated with completing these acquisitions in order to continue the growth of Healthe Care's hospital portfolio,” he said.
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
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