TPG leads $1.4bn healthcare buyout

An investor group led by Texas Pacific Group has agreed to acquire IASIS Healthcare, an operator of acute care facilities.

An investor group led by private equity dynamo Texas Pacific Group (TPG) has agreed to acquire IASA Healthcare in a transaction valued at approximately $1.4 billion (€1.2 billion).

According to the press statement, New York-based private equity firm JLL Partners, company management and certain other current investors in IASIS will make significant new investments in the company as well.

IASIS, which was formed by JLL Partners and other investors in 1999, owns and operates acute care hospitals and other healthcare facilities in high-growth urban and suburban markets. According to the statement, the company has annual revenue of about $1.2 billion.

Lehman Brothers and Merrill Lynch advised TPG in connection to this transaction.
TPG currently manages more than $13 billion in assets, which includes its $5.3 billion Fund IV closed earlier this year. Last month, TPG partners with Silver Lake Partners to acquire the Sniffer assets from network software company Network Associates for $275 million.