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Allens advises financiers on Icon Group acquisition

25 May 2017

Allens has advised Credit Suisse AG and Goldman Sachs Australia as financiers of the acquisition of the Icon Group, Australia's largest private cancer and oncology services group.

The acquisition, made by a consortium comprising QIC, Goldman Sachs PIA and Pagoda, will allow Icon to continue its expansion across Australia and Asia.

Icon is headquartered in Brisbane and has expanded to Singapore, China and New Zealand, providing radiation oncology, day oncology hospitals, pharmacy and chemotherapy compounding to previously under-served locations.

'We are pleased to have advised Credit Suisse AG and Goldman Sachs Australia on this landmark deal, which is set to fuel the ongoing success of Icon Group in the region,' said lead partner Tim Stewart.

'The deal underscores the strength of Australian healthcare providers, which are well placed to take advantage of ever-growing demand for investment targets in the region. It also shows the willingness of financiers to provide domestic underwritten support for these types of acquisitions.'

The deal is expected to complete in the second half of 2017, pending approval from the foreign investment review board.

Allens legal team Lead partner: Tim Stewart (Banking and Finance)

Sarah Bitcon (Senior Associate); Lily Zhang (Senior Associate), Nicholas Koutsoukos (Lawyer), Elise Blume (Law Graduate)

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Notes for editors.

Allens is a commercial law firm working throughout Australia and Asia. Through its integrated alliance with Linklaters it provides clients access to 39 offices in 28 countries around the world.