Allens advises Archer Capital on sale of Healthe Care

Allens has advised Archer Capital on its proposed divestment of private hospital business Healthe Care to China's Luye Medical Group.

Healthe Care is Australia's third largest private hospital operator and one of the largest privately-owned healthcare companies in Australia.

Commenting on the deal, Allens co-Head of Private Equity Tom Story said the deal was a highly successful private equity exit through a competitive auction process.

Mr Story said: 'We advised Archer Capital when it acquired Healthe Care in 2011 and advised the business on a number of bolt-on acquisitions since then.'

Allens Healthcare Sector Leader, Jeremy Low said: 'High quality healthcare assets are very desirable in the current market and Healthe Care is Luye's first acquisition in Australia. 'The deal was a great project for us as it combined our expertise in private equity transactions across the healthcare sector.'

Archer Capital was also advised by Luminis Partners and Morgan Stanley. Completion of the transaction is expected in the first quarter of 2016.

Healthe Care owns and operates 17 private hospitals across the country and posts an annual revenue of approximately $500 million.

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