HWL Ebsworth has acted for Healthe Care Australia Pty Ltd (Healthe Care), one of Australia’s largest private hospital operators, in its recent acquisition of Hurstville Private Hospital from Continuum Healthcare Group. Hurstville Private Hospital is located in Sydney’s south-west.
The deal follows Healthe Care’s recent purchase of Mayo Private Hospital in Taree on which HWL Ebsworth also acted.
HWL Ebsworth M&A partner Jeremy McCarthy together with senior associates Paul Lewis, Sam Dwyer and Claudina Vranken co-ordinated negotiations with both Vital Healthcare Property Trust (Vital), a New Zealand listed property trust and the vendors of the hospital owning company in order to facilitate a successful outcome for all parties in respect of the transaction.
The transaction was complex and involved Healthe Care acquiring all of the shares in the hospital owning company and Vital entering into separate purchase and lease arrangements with respect to the hospital land.
As part of the land purchase by Vital, Healthe Care entered into a long term lease of the property and will work with Vital to re-develop and expand the hospital to meet current and future demand for healthcare services in the area.
The Hurstville transaction was the second acquisition for Healthe Care since it was acquired in late 2011 by private equity group Archer Capital and was the tenth hospital acquisition on which Jeremy has acted for Healthe Care.
Healthe Care is the third largest for-profit private hospital operator in Australia. The acquisition of the Hurstville Private Hospital takes Healthe Care’s hospital portfolio to 14 and is another key asset in a portfolio which already includes interests in various hospitals and healthcare facilities throughout Queensland, New South Wales, Victoria and Tasmania.
With four of HWL Ebsworth’s partners named in 2012’s Australian Best Lawyers in the Health and Aged Care category, including Jeremy, no other law firm in Australia has a greater depth of peer recognised expertise in legal services to the health and aged care industries.
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