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Private equity firm snaps up healthcare business
Global private equity firm Riverside Partners has invested in injury prevention and workplace rehabilitation service provider IPAR.
Felicity Nelson
Firms: Arnold Bloch Leibler (IPAR Rehabilitation); Hebert Smith Freehills (Riverside Partners)
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Deal: Melbourne-based firm IPAR Rehabilitation has made a 70 per cent sale to US-based Riverside Partners.
Value: Undisclosed
Area: M&A
Key players: From ABL, Melbourne-based corporate and commercial partner Jeremy Leibler (pictured) and senior associate Jeremy Lanzer.
Deal significance:
According to a Riverside press release, Riverside has made 80 strategic investments in specialised healthcare businesses such as IPAR.
IPAR principally serves large insurance companies who either administer or underwrite the workers’ compensation cases for the various government entities.
IPAR, established in 2003, has 41 locations and over 240 employees across Australia.
“This deal is yet another example of global private equity firms investing in Australian businesses, with healthcare proving to be an especially attractive sector,” said Mr Lanzer.
