Allens advises EBOS Group on acquisition of HPS

Allens has advised EBOS Group Limited on the proposed purchase of HPS, Australia's largest provider of outsourced pharmacy services.

The acquisition of HPS - from Blue Sky Private Equity and a number of management shareholders - is an important strategic investment for EBOS, boosting its existing Australian hospital business and providing a new platform for EBOS to expand.

The Allens team was led by corporate partner Emin Altiparmak with support from partners Mark Malinas, Michael Park and Michael Graves.

'We are delighted to be able to help EBOS with its successful bid for the HPS business,' Emin said.

'The acquisition adds to EBOS' existing portfolio of healthcare, pharmaceutical and animal care businesses in Australia and New Zealand, and we look forward to seeing EBOS continue to support the growth of the HPS business.'

The acquisition highlights the continued strength of M&A activity in the healthcare sector, explained in Allens' recent report on private equity trends in 2017.

'The Australian healthcare sector remains a key target for sponsors and strategic buyers,' said co-head of private equity Mark Malinas.

'In this case it was private equity selling to a strategic buyer. Earlier in the week we saw private equity acquire Icon Cancer Centres. We see that trend of M&A activity in healthcare assets continuing,' Mark said.

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