Luye Medical Group to buy Healthe Care

Luye Medical Group (Beijing, China) has entered into an agreement to acquire Australian private hospital operator Healthe Care (Sydney, Australia) for USD 688 million.

The third largest corporate private hospital operator in Australia, Healthe Care operates a portfolio of 17 hospital sites in major cities and key regional areas across Australia, with over 1,800 beds, 50 operating theaters, and 4,500 employees. Healthe Care was bought by private-equity firm Archer Capital (Sydney, NSW, Australia) in 2011, and since then has company has steadily expanded with a series of acquisitions, including Townsville Private in 2014 and Robina Private earlier in 2015.

For Luye Medical, the agreement marks the company’s 's first entry into the overseas hospital sector, with stated purpose of helping to meet higher demands on China's healthcare sector. Luye Medical, a division of the Luye Group, currently operates a network of healthcare service facilities across major cities in China, focusing on key therapeutic areas, including rehabilitation nursing, plastic surgery, postpartum nursing, geriatric medicine, and dentistry.

“There are very few private hospital portfolio acquisition opportunities anywhere in the world, and to be able to enter the Australian market with an acquisition of scale such as Healthe Care represents a great opportunity,” said Liu Dian Bo, chairman of Luye Group. “I strongly believe that Healthe Care will provide us with a platform upon which we can build a world class and highly successful healthcare services business not only in Australia and China, but also in many other countries in Asia.”

“I have spent a considerable amount of time over the past several months getting to know the Luye Medical management team and have been impressed by their vision and strong commitment to continue funding the expansion of healthcare services at Healthe Care,” said Steve Atkins, CEO of Healthe Care. “I am looking forward to working with Luye Medical’s executives and benefitting from their healthcare expertise as we further our strong partnerships with Healthe Care’s doctors and staff to deliver the highest standards of patient care.”

Related Links:
Luye Medical Group
Healthe Care
Archer Capital