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Primary Health Care acquires seven specialist hospitals
Cooper Grace Ward has acted for Montserrat Day Hospitals on the sale of its hospital and healthcare business to Primary Health Care in a deal seen as “an exciting opportunity for both parties”, according to the firm.
Grace Ormsby
Firm: Cooper Grace Ward (Montserrat Day Hospitals), Herbert Smith Freehills (Primary Health Care Limited)
Value: Undisclosed
Area: M&A, Healthcare
Key players: The Cooper Grace Ward team was led by partner Charles Sweeney with support from partner Clinton Jackson, special counsel Andrew Corkhill, lawyers Adelaide Hayes, Nick Ward, and graduate David Lee Lewes.
Deal significance: Monserrat Day Hospitals currently operates seven specialist day hospitals and haematology/oncology clinics across Western Australia, Queensland and NSW.
Both parties see the acquisition as an exciting opportunity, as Monserrat is “strategically aligned to Primary Health Care’s core business of providing frontline community healthcare”, according to a Cooper Grace Ward statement.
Leading the deal, Mr Sweeney commented that the firm was “thrilled to have advised our long-standing client on this substantial deal, which further underscores Cooper Grace Ward’s compelling M&A offering”.
“We have enjoyed working with the team at Montserrat to reach the right outcomes in this complex transaction,” he said.
The acquisition is expected to be completed in November, subject to the standard conditions precedent being satisfied.
