Carlyle and TPG to exit Australia’s Healthscope

The combined stake accounts for 17.8 percent of Healthscope’s shares.

The Carlyle Group and TPG Capital are selling their remaining stake in Australian private healthcare operator Healthscope Limited for a reported AUD 853.7 million ($612 million, €577 million).

Carlyle and TPG first agreed to buy the company for about AUD 2 billion in 2010. Healthscope was subsequently de-listed from the Australian Securities Exchange (ASX), according to its website.

Carlyle made the investment through Carlyle Asia Partners III, a buyout vehicle launched in 2007 at $2.55 billion.

In July 2014, Healthscope successfully re-listed on the ASX. 

In FY 2015, the hospital chain reported a group operating EBITDA of AUD 388 million and group revenue of AUD 2.4 billion. 

Healthscope employs over 17,000 staff across 45 hospitals, 52 medical centres and 50 international pathology laboratories.

Carlyle and TPG’s board representatives, Simon Moore and Aik Meng Eng will stay on as non-executive directors “to ensure a smooth transition” but will “step down in due course”, according to a statement.

Carlyle has extensive experience in the healthcare sector in Asia with investments in Meinian Onehealth and Concord Medical in China, as well as Global Health in India.