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Natalie Bryce


Natalie is both an experienced Corporate and Mergers & Acquisitions lawyer and an expert in Healthcare, Aged Care, Outsourcing and Privatisations. Natalie is Herbert Smith Freehills’ Sector Lead Partner for Healthcare.



Clients value Natalie’s ability to manage large transactions, as well as her deep sector expertise and clear communication style. In addition to M&A, Natalie has a significant Government advisory practice, including undertaking reviews of legislation, scoping studies and strategic reviews. She brings a solutions-focused, commercial approach to both her transactional and advisory work.

Natalie has extensive experience running private M&A transactions across a variety of industries. In the Healthcare sector, Natalie has experience across the gamut of the industry including public and private hospitals, medical centres, pathology, diagnostic imaging, cancer care, IVF, residential care, hearing services, home care, health data analytics and private health insurance.

Since 2015, Natalie has led the Herbert Smith Freehills team advising the Australian Government on reform of ASC Pty Ltd (a government-owned submarine sustainment/shipbuilding company). This reform process supports the $89 billion of investment in new naval vessels and infrastructure planned for Australia over the next 30 years.

Her recent experience includes:

  • acting for the Royal Commission into the Victorian Mental Health System
  • acting for the Federal Department of Finance in relation to the Review of the Lands Acquisition Act 1989
  • acting for Infratil and Morrison & Co on their acquisition of a circa 70% interest in Qscan, a leading Australian diagnostic imaging provider
  • acting for QIC Global Infrastructure Fund on its acquisition of a circa 75% interest in Nexus Hospitals, Australia’s second largest operator of day and short-stay hospitals
  • acting for the Bethanie Group Inc. in relation to its acquisition of the Berrington Care residential aged care facilities
  • acting for the Australian Government on the sale of ASC Shipbuilding to BAE Systems Australia
  • acting for ITOCHU Corporation on its strategic business investment in SUNTOP, a PRC kidney health/dialysis provider
  • acting for the Queensland Government on the creation of CleanCo Queensland, a new no and low emissions electricity generator
  • acting for Singapore-based Fullerton Health on its acquisition of Healthscope Medical Centres
  • acting for the Australian Government on the landmark $5.67 billion IPO of Medibank Private (Australia’s largest private health insurer)




Natalie joined Herbert Smith Freehills in 2001. She worked in our Sydney and Melbourne offices before relocating to Brisbane in 2007.