Major private hospital operator to be broken up after lenders back consortium bid
Australia's second-largest private hospital operator, Healthscope, will be broken up and sold to various healthcare providers following its financial collapse. The deal ensures the continuity of services for patients and job security for 14,000 staff members.
Why it matters
The restructuring of a major healthcare provider is vital for maintaining medical service stability and employment within the private health sector.
— 11:28am , first published 10:40am
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Share A A A Australia’s second-largest private hospital operator, Healthscope, will be broken up, with Sydney’s Prince of Wales Private Hospital and Melbourne’s Knox Private Hospital to be sold to private equity under a deal announced on Monday.
Lenders to the embattled healthcare group approved the deal, which follows its financial collapse in April last year under $1.7 billion worth of debt after its private equity owner, Brookfield, walked away.
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