Norton Rose Fulbright is advising Pulse Health Limited on a proposed acquisition by Healthe Care Australia Pty Limited, a leading Australian private hospital operator. The deal is worth AU$150 million.

Recently acquired itself, for $1 billion by Luye Medical Group, which is comprised of a network of healthcare service facilities across China, Healthe Care operates a portfolio of 17 hospital sites in major cities and key regional areas across Australia. The company has 1,800 beds, more than 50 operating theatres and more than 4,500 employees.

Our Melbourne-based team advised on the takeover which was by way of scheme arrangement. Despite the bid being non-binding and indicative as well as subject to due diligence, Pulse says it will engage further with Healthe Care, with due diligence expected to be completed with six weeks.

Norton Rose Fulbright partner James Stewart, who led the deal, commented:

“We are really pleased to be assisting Pulse Health on this proposal.  We have been involved in a number of Australian health and well-being sector transactions with Chinese parties.  There is strong interest in the sector.”

Melbourne partner James Stewart led the team, which consisted of lawyers Sophie Wade and Chanel Mercurio.