Allens has advised BGH Capital on the acquisition of Healius' medical centres and dental clinics businesses and its separation from Healius' day hospitals and IVF clinics business. The transaction successfully completed on 23 November 2020 and has a headline value of $500 million.
Allens' Private Equity and Healthcare specialists across a number of practices combined to help BGH deliver a complex carve-out transaction that spanned the COVID period.
'The BGH team has been incredibly active in the Australian market in 2020 despite COVID and the broader economic headwinds. While this deal was conceived pre-COVID, it was among the first leveraged buy-outs by an Australian PE sponsor during the first COVID wave, but the complexity of the carve out from Healius saw it complete only after the end of the second COVID wave,' said PE Partner and Head of Corporate, Tom Story.
'We have seen a growing pipeline of healthcare M&A opportunities in Australia in 2020, which has continued to supply the healthy appetite that PE sponsors have in this sector. In 2021, we expect to see a number of additional corporate carve out and bolt on opportunities in this sector for PE sponsors and their portfolio companies, as well as some secondary deals as sponsors who might have been hoping to exit their healthcare investments in 2020 will look to realise their goals in 2021 as markets steady post COVID,' said PE Partner and Funds Sector Leader Emin Altiparmak.
This deal adds to Allens' leading presence in the Australian Private Equity market, with the firm being named Private Equity Legal Adviser of the year in the Mergermarket Australia M&A Awards 2020.
Allens legal team
Tom Story (Partner), Emin Altiparmak (Partner), Noah Obradovic (Partner), Greg Lawson (Senior Overseas Practitioner), Joanne Pak (Associate), Andrew Lee (Associate), Alisha D'Souza (Lawyer) and Georgie Kilborn (Lawyer).
Annabelle Aland (Partner), Peter Brennan (Senior Associate) and James Keir (Lawyer).
Technology, Media & Telecommunications
Jessica Mottau (Partner), Claudia Hall (Senior Associate) and Lewis Graham (Lawyer).
Sikeli Ratu (Partner).
Joel Barrett (Partner) and Elliott Burton (Associate).
Joseph Power (Partner), Jay Prasad (Senior Associate) and Jon Wenham (Associate).