Healthscope Sells New Zealand Pathology Business to Ontario Teachers’ and NZ Super Fund
Posted on 08/04/2020
Healthscope is Australia’s only national private healthcare provider with 43 private hospitals. Healthscope has entered into a binding agreement to sell its New Zealand pathology business, Asia Pacific Healthcare Group Pty Ltd (APHG), to the NZ Super Fund and Ontario Teachers’ Pension Plan Board (Ontario Teachers’) who will each take a 50% stake. The sale is valued at more than NZD 550 million and is subject to customary approvals including approval from New Zealand’s Overseas Investment Office, with completion expected in the next six months. APHG provides pathology services to 75% of New Zealand’s population with over 2,000 staff operating across its network of 25 laboratories and 150 collection centers.
APHG has been heavily involved in providing testing as part of New Zealand’s response to the coronavirus (COVID-19).
In October 2010, Healthscope was acquired by Asia Pacific Healthcare Group Pty Ltd, a company owned by funds advised and managed by The Carlyle Group and TPG Capital. Healthscope was then delisted.
Keywords: New Zealand Superannuation Fund, Ontario Teachers Pension Plan Board.
- Asia Pacific Healthcare Group
- New Zealand
- New Zealand Superannuation Fund
- Ontario Teachers' Pension Plan
- Private Equity