King & Wood Mallesons advised shareholders of Icon on its sale to a consortium led by government-owned fund manager QIC.
The consortium, which also included Goldman Sach’s Private Equity and Pagoda Investment, bought Icon for more than $1bn. Icon is Australia’s largest private cancer care provider.
Icon was bought from Quadrant Private Equity and other shareholders, which were advised by
KWM.
The Big Six firm’s team was led by partner Mark McNamara, who was supported by partners Elizabeth Hundt Russell and Tim Sherman, special counsel Alex Elser, senior associate Joseph Power, and solicitors Dan Flanagan, Karen Chen, and Anthoney Duong.
“We have supported Icon since its foundation investment in 2014, having advised on numerous subsequent bolt-on acquisitions leading up to this sale. The doctor and management group have done a remarkable job over this period delivering first-class cancer care to patients while also laying a very strong platform for the business’s next period of growth in Asia,” McNamara said.
KWM noted that the sale received strong interest from both local and Chinese groups.
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