Medibank makes Myhealth investment
Corrs Chambers Westgarth has advised Medibank on its investment in Myhealth Medical Group.
Firms: Corrs Chambers Westgarth (Medibank); Undisclosed (Myheath Medical Group).
Deal: Medibank has acquired a non-controlling 33.4 per cent economic interest in Myheath Medical Group.
Area: M&A, finance.
Key players: The team advising Medibank was led by corporate partner Sandy Mak, competition partner Mark McCowan, banking and finance partner Rommel Harding-Farrenberg, employment partner Stephen Price, intellectual property partners Eugenia Kolivos and Helen Clarke, and property and real estate partner Nathaniel Popelianski.
Deal significance: Myhealth Medical Group is a leading operator of primary care clinics.
According to a statement from Corrs Chambers Westgarth, the acquisition by Medibank recognises the vital role of GPs in the community and the positive impact they have on the healthcare system.
Corrs’ cross-practice team advised on everything, from the structuring and due diligence of the deal to the signing of the transaction documents, and will continue to advise Medibank up to completion of the transaction, which is expected to take place in March 2021.
“It has been a pleasure and privilege to work on another strategic transaction with Medibank,” corporate partner Sandy Mak said.
“It was a great team effort involving a wide range of Corrs practice groups across the country.”