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Home > PE News > By Region > Australasia > New Zealand

CHAMP puts Healthcare Australia up for sale CHAMP puts Healthcare Australia up for sale

21 Jul 2010. Source: AltAssets
Private equity firm CHAMP is seeking a buyer for Healthcare Australia, the country’s largest nursing and aged care staffing business, according to Reuters.

Information memorandums for Healthcare Australia, which is reportedly worth around AUS$300m ($265m), were sent out to prospective bidders last week, with indicative bids expected in August.

News of the sale follows a fierce private equity bidding war for another Australian healthcare provider, Healthscope. The private hospital operater was picked up by US buy-out houses Carlyle and TPG in a deal valuing the company at $2.35bn. The underperformance of recent Australian IPOs may also have influenced the decision to pursue a private sale.

Healthscope investor Carlyle also picked up Brazilian healthcare services provider Qualicorp for a reported $1.2bn, with an eye to capitalising on the country’s growing middle class with the income to pay for private care.

Copyright © 2010 AltAssets

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