Maddocks pitches in on $1bn medical merger

Maddocks has pitched in on Capitol Health Limited’s (CAJ) proposed merger with Integral Diagnostics Limited (IDX) – a deal that looks to birth a $1bn medical diagnostic imaging company. 

The merger is set to take place via scheme of arrangement. CAJ confirmed that it had entered into a merger implementation deed with IDX on 15 July. Under the deal, IDX will pick up all shares in CAJ in exchange for shares in IDX. 

The deal will establish a diagnostics provider with considerably increased scale, more exposure to Queensland and New Zealand, and a greater presence in Victoria and Western Australia. The merger is subject to approval by CAJ shareholders, courts and regulatory authorities; once approved, CAJ shareholders will own approximately 37% of the merged entity. 

Corporate partner Ron Smooker and special counsel Jacqui Picone took point on the cross-practice Maddocks team that worked on the transaction. They received support from lawyers Oliver Wahlstrom, Cooper Smith, and Lucy MacLachlan.  

Employment partner Meaghan Bare and senior associate Grace Turner-Mobbs advised on the employment aspects. Lawyers from the Sydney health/TMT and Melbourne property and LDR teams provided additional support. 

Earlier this month, Maddocks also guided TriVantage Holdings Pte. Ltd. on its pickup of Australian sportswear brand 2XU. The acquisition facilitates the growth of the 2XU brand, particularly in North America, Europe, and the APAC region. 

Partner Rahil Patel headed up the firm’s team, receiving support from senior associate Sophie Ryan and lawyer Ashish Achar (commercial), as well as special counsel Paula Nassif (banking and finance).