Australia’s largest cancer care service provider acquired by EQT

Australia’s largest cancer care service provider acquired by EQT

25 November 2021 By Naomi Neilson
Medical Specialists and Management acquired by EQT

Medical Specialists and Management shareholders have been assisted on EQT’s acquisition of Icon Group, one of Australia’s largest cancer care service providers.

Firm: Gilbert + Tobin (Medical Specialists and Management)

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Deal: Gilbert + Tobin (G+T) advised Medical Specialists and Management shareholders on EQT’s acquisition of Icon Group.

Value: N/A.

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Area: M&A.

Key players: The team was led by corporate advisory partner Adam Laura, who had support from lawyers Michael McDonald and Srivatsav Moorthy.

Deal significance: The acquisition of Icon Group came from a consortium of Goldman Sachs Asset Management, QIC and Pagoda Investments. EQT is one of the highly active private equity investors in the healthcare industry.

Providing radiation and day oncology services, Icon Group is one of the largest cancer care service providers with an established network of cancer centres and clinical research hubs in Singapore, Mainland China, Hong Kong and New Zealand.

The new investment will allow Icon Group to continue its global expansion throughout Asia and deeper into the northern hemisphere.

Commenting on the deal, Mr Laura said: “We are delighted to have assisted on this transaction and are excited to see the next phase of growth for the Icon Group.”

Australia’s largest cancer care service provider acquired by EQT
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