Allens and
Maddocks are leading as legal counsel as EBOS Group buys HPS, Australia’s largest provider of outsourced pharmacy services to hospitals.
The NZX-listed EBOS
told the exchange that it has stuck a deal to buy Australian company for $154m. The proposed acquisition comes after EBOS Group’s investments in Australia's BlackHawk Premium Pet Care, Terry White Chemmart, and New Zealand’s Red Seal.
Allens is acting for EBOS while Maddocks is advising HPS. The Allens team is led by corporate partner Emin Altiparmak (corporate) with support from partners Mark Malinas (joint head of private equity), Michael Park (TMT), and Michael Graves (real estate).
The Allens team includes managing associate Rosannah Healy (competition); Ric Morgan (regulatory/IP); senior associate Jonathan Hoe; associate Laura Miller; lawyers Karina Plain, Emily Rothfield, and Leah Wickham; and law graduate Emma Moore.
Maddocks' team is comprised of partners Catherine Debreceny, Damien Wurzel, and Ron Smooker; senior associate Amanda Jones; and associates Steven Tang and Jacqueline Picone.
HPS is being acquired from Blue Sky Private Equity and other shareholders. EBOS is Australasia’s largest marketer, wholesaler, and distributor of healthcare, medical, and pharmaceutical products.
The acquisition bodes well for M&A in the healthcare space, Malinas said.
“The Australian healthcare sector remains a key target for sponsors and strategic buyers,” he said. “In this case it was private equity selling to a strategic buyer. Earlier in the week, we saw private equity acquire Icon Cancer Centres. We see that trend of M&A activity in healthcare assets continuing.”
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