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Firm has vision for $255m takeover bid

Firm has vision for $255m takeover bid

James Stewart Norton Rose Fulbright

Norton Rose Fulbright has advised private hospital Pulse Health on its bid for Vision Eye Institute, announced today on the ASX.

Firms: Norton Rose Fulbright (Pulse Health)

Deal: Private hospital and surgery centre Pulse Health made a multimillion-dollar bid to acquire all the ordinary voting shares of Vision Eye Institute.

Value: $255 million

Area: M&A

Key players: James Stewart (pictured) was the lead partner for the deal and was assisted by a team including partner Alen Pazin and senior associate Chris Mitchell. Senior counsel Jyoti Singh, as well as senior associate Christian Navarro, associate Melissa Van Twest and lawyer Carrie Hui, also acted on the deal.

Deal significance: According to a statement to the ASX by Pulse, the merger will create “one of Australia’s leading providers of specialist healthcare services through its combined network of niche hospitals, surgery centres and ophthalmic practices”.

The new group would have “significant brownfield, greenfield and acquisitive growth opportunities supported by balance sheet capacity and an attractive capital markets profile.”

Pulse intends to acquire all the ordinary voting shares for the consideration of 1.60 fully paid ordinary shares in Pulse for each Vision Eye Share, Norton Rose Fulbright confirmed.

Partner James Stewart suggested the deal would have a significant impact on Australian healthcare.

“It is pleasing to assist in Pulse pursuing its strategy for growth in the Australian health market, with a deal that has the potential to cement its prominence as a top specialist healthcare provider,” Mr Stewart said.

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