Minter Ellison Assisting in Acquisition of Healthscope
October, 2010 - Australia, Australia
Acquisition of Healthscope
Minter Ellison is acting for Healthscope in relation to the acquisition proposal it received from a private equity consortium comprising TPG Capital and The Carlyle Group. The acquisition is proceeding as a scheme of arrangement and followed a competitive auction process, at the conclusion of which the Healthscope Board unanimously recommended that its shareholders accept the TPG/Carlyle consortium's cash offer of A$6.26 per share, valuing Healthscope at $2.7 billion (inclusive of debt which the consortium agreed to assume).
Healthscope is Australia's second-largest private hospital operator. It operates 43 private hospitals and owns 45 medical clinics as well as pathology services in Australia, New Zealand and south-east Asia.
Minter Ellison was involved in all legal aspects of the transaction, including negotiating confidentiality agreements with prospective bidders, facilitating their due diligence, negotiating transaction documentation with prospective bidders who submitted formal proposals, reviewing their equity and debt funding arrangements, preparing the Explanatory Booklet for the scheme, initiating the Court process for the scheme, and advising the Healthscope Board throughout the course of the transaction
