In-house solution SmartCompile™ completed company searches for Healthe Care's due diligence
Healthe Care's surgical hospitals portfolio is comprised of 12 hospitals and multiple 7 day surgery centres located in Australia and New Zealand. They provide a diverse offering of healthcare services across various therapeutic areas.
Allens advised Healthe Care on the sale of its surgical hospitals business to funds advised by leading Australian private equity sponsor Pacific Equity Partners. As part of the sale, lawyers needed to review and report on more than 250 Personal Property Securities Register (PPSR) entries lodged against 21 companies in the group. Historically many hours would be spent manually trawling through the register to prepare a due diligence report.
The team used Allens in-house solution, SmartCompile™ to automate much of the manual work. SmartCompile™ has the functionality to:
- Retrieve company information from the web and break it down into a structured data format.
- Populate and format company information into a standard style for review and reporting.
- Capture PDF versions of company searches enabling lawyers to check the accuracy of information retrieved.
Using SmartCompile™ significantly cut the hours spent on reviewing PPSR entries and ultimately reduced the cost by approximately 30 per cent of this important due diligence activity.
'SmartCompile™ collates all of the information into one understandable table that the client can easily view and analyse. It was also effortless to use and reduced the risk of error in transposing the search results into summary tables, as that process is fully automated.
'The solution also reduced the time spent on compiling, reviewing and analysing the PPSR search results, which translated to a cost savings for our client.
'SmartCompile™ is another great example of Allens using technology to improve efficiencies, ensuring our lawyers can spend time where it is needed the most – solving complex problems for clients.'
Sandi Montalto (Product Manager), Breda Loughnane (Associate)
Find out how SmartCompile™ can save you time and reduce your legal costs.