find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Insurance Lawyer (3-5 PAE)
Category: Insurance and Superannuation Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Dynamic organisation ·
View details
Legal Counsel
Category: Corporate and Commercial Law | Location: North Sydney NSW 2060
· 18 month fixed term contract · 3-5 years PQE with TMT exposure
View details
Healthe Care embarks on major acquisitions

Healthe Care embarks on major acquisitions

Acquisition

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.

Firm: Allens (Healthe Care Australia); Norton Rose Fulbright (Pulse Health); King & Wood Mallesons (Evolution Healthcare)

Deal: Healthe Care Australia has been advised on the acquisition of Pulse Health Limited, as well as three hospitals in the Illawarra region.

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.

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Healthe Care embarks on major acquisitions
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
LCA president Fiona McLeod SC
Aug 17 2017
Where social fault lines meet the justice gap in Aus
After just returning from a tour of the Northern Territory, LCA president Fiona McLeod SC speaks wit...
Marriage equality flag
Aug 17 2017
ALHR backs High Court challenge to marriage equality postal vote
Australian Lawyers for Human Rights (ALHR) has voiced its support for a constitutional challenge to ...
Give advice
Aug 17 2017
A-G issues advice on judiciary’s public presence
Commonwealth Attorney-General George Brandis QC has offered his advice on the public presence of jud...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...