Herbert Smith Freehills has advised Healius Limited on the sale of its Montserrat Day Hospitals business, with an enterprise value of up to A$138.6 million, to Nexus Day Hospitals, controlled by funds managed by QIC Limited.
Healius is a diversified healthcare business with two core diagnostics businesses, pathology and diagnostic imaging. Montserrat Day Hospitals is an operator of 11 specialist short-stay hospitals and haematology/oncology clinics. This transaction is another step in the transformation of Healius to a core diagnostics provider and follows the divestment of Adora Fertility earlier in 2022 and its medical and dental centres business in 2020.
The Herbert Smith Freehills team was led by partner Brad Russell, and the core team comprised senior associate Ken Ooi, and solicitors Shonie Kaushik, Laura Boshier Eggins and Alessandra Hayward. They were supported by specialists from the Herbert Smith Freehills’ competition, employment, intellectual property and stamp duty teams.
Brad Russell said, “We are delighted to have assisted Healius with this significant transaction. It is always a pleasure to work with the experienced Healius team, led by Mark Ellis (General Manager - Corporate Development), John Natal (General Manager – Legal) and Paula Stokes (Head of Corporate Development).”
The transaction is the latest in the long-term relationship between HSF and Healius, which includes:
- the purchase of Montserrat Day Hospitals in 2018;
- the sale of the Healius medical and dental centres business in 2020; and
- the sale of Adora Fertility in 2022.