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Calvary Health absorbs aged care operator
G+T has advised not-for-profit Calvary Health on its acquisition of one of Australia’s largest aged care operators, Japara.
Lauren Croft
Firm: Gilbert + Tobin (Little Company of Mary Health Care Limited).
Value: $380 million.
Area: Not-for-profit.
Key players: The G+T team was led by M&A partner Peter Cook, with lawyers Mary Brady, Ilona Hunnisett and Amelia Nichols advising on the deal. Charities partner Darren Fittler and graduate Karla Dunbar advised on the not-for-profit aspects of the deal.
Calvary also established new debt facilities in connection with the transaction and undertook an associated refinancing, with support from banking and projects partner John Schembri, lawyers Corrie Eames and James Lee, and graduate Yuka Nagata.
Deal significance: Calvary is a charitable Catholic not-for-profit organisation with more than 12,000 staff and volunteers, 14 public and private hospitals, 17 retirement and aged care facilities and a national network of community care centres. Japara is an Australian aged care operator with one of the country’s largest private-sector residential aged care portfolios.
Commenting on the deal, Mr Cook said: “We understand this to be the first take-private of a listed company by a charitable organisation. It was a unique deal, and we are delighted at the outcome for Calvary.
“Calvary’s strategy is centred on being the health community and aged care provider of choice, delivering quality care, with this acquisition allowing it to reach approximately 4,000 more aged care residents while adding more than 6,000 employees and 50 properties to the Calvary Group, and we were honoured to be involved.”
Lauren Croft
Lauren is a journalist at Lawyers Weekly and graduated with a Bachelor of Journalism from Macleay College. Prior to joining Lawyers Weekly, she worked as a trade journalist for media and travel industry publications and Travel Weekly. Originally born in England, Lauren enjoys trying new bars and restaurants, attending music festivals and travelling. She is also a keen snowboarder and pre-pandemic, spent a season living in a French ski resort.
