KKR Led Group Makes a Bid for Ramsay Health Care

Posted on 04/20/2022

Ramsay Health Care Limited (Ramsay) (ASX: RHC) has a global network of hospital and health care facilities located across three continents including Australia, Europe, and Asia.

An investor group led by KKR & Co. Inc. made a conditional, non-binding bid to acquire 100% of the shares in Ramsay. Under the Indicative Proposal, Ramsay shareholders would be entitled to receive A$ 88.00 per share cash, less any ordinary or special dividends paid to shareholders after the date of the Indicative Proposal. The bid values the company’s group equity at A$ 20.1 billion or at an enterprise value of A$ 26.4 billion. Current Ramsay shareholders will have the option to receive part of the consideration in unlisted scrip in the consortium holding entity.

The investor group is led by KKR and consists of HESTA, Abu Dhabi Investment Authority, Singapore’s GIC Private Limited, and others.

Ramsay has appointed UBS AG, Australia Branch and Herbert Smith Freehills as financial and legal advisers respectively.

Barrenjoey Capital Partners and Credit Suisse are advising KKR.

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