May 17, 2020

Brookfield places a $3.3bn bid to acquire Australia’s Healthscope

Catherine Sturman
2 min
Australian healthcare provider Healthscope has revealed that it has received a new $3.3bn proposal from Canadian investment company Brookfield Asset Man...

Australian healthcare provider Healthscope has revealed that it has received a new $3.3bn proposal from Canadian investment company Brookfield Asset Management, surpassing a local buyout proposal.

A potential deal with Healthscope and Brookfield would make the acquisition one of the largest healthcare takeovers by a Canadian company to date.

Shares have risen to a two-year high at 4.9% and will now see the start of a potential bidding war between BGH Capital and AustralianSuper, who partnered last month to prepare a joint proposal of $3.1bn in a new consortium.

“All members of the consortium will reject, vote against or not accept any proposal for the acquisition of Healthscope shares that may be put forward by any other party,” the duo have stated in a joint statement.

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At present, AustralianSuper has over 15% stake in Healthscope, and has previously stated that it would disregard any offers, even if they are larger than previous offers.

With this in mind, it will be interesting to see whether Brookfield will attempt to split the consortium by speaking directly with Healthscope’s board to pave the way for a potential deal. The company has stated that its offer will only be valid if AustralianSuper is prevented from voting against the move.

Interestingly, the news follows on from Northwest Healthcare’s recent 10% stake in Healthscope, which it acquired for $312mn.

Brookfield is presently being represented by Bank of America Merrill Lynch, whilst Healthscope has appointed UBS in its bid.

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Jun 21, 2021

Dubai's new smart neuro spinal hospital: need to know

2 min
The brand new Neuro Spinal Hospital and Radiosurgery Centre has opened in Dubai. We take a look at what this smart hospital offers. 

We take a look at Dubai's new smart hospital. 

What: The Neuro Spinal Hospital and Radiosurgery Centre is a new hospital featuring state-of-the-art technology for spinal, neurosurgical, neurological, orthopaedic, radiosurgery and cancer treatments. The 700 million AED hospital, (equivalent to £138 million), has 114 beds, smart patient rooms, and green spaces for patient rehabilitation, and is four times the capacity of its former premises in Jumeirah.   It is also the UAE’s first hospital to have surgical robots. 

Where: The hospital is located in the Dubai Science Park. Founded in 2005,  Dubai Science Park is home to more than 350 companies from multinational corporations in life sciences, biotechnology and research; over 4,000 people work here each day. 

Who: The UAE's Neuro Spinal Hospital and Radiosurgery Centre was first established in Jumeirah in 2002 by Dr. Abdul Karim Msaddi, as the first as the first "super-specialty" neuroscience hospital. 

Why: With advanced diagnosis and robotics, the hospital will provide care across neuroscience, spine, orthopaedics and oncology for people residing in the UAE, as well as international patients.  

Prof. Abdul Karim Msaddi, Chairman and Medical Director of the hospital, said: “We are proud to bring world-class healthcare services to Dubai and believe our  next-generation hospital will be a game-changer for the emirate’s and the region’s medical industry.

"It will not only significantly increase the availability of specialist neuroscience and radiosurgery treatments and provide better patient care but help attract and develop local and international talent. Investing in the new centre represents our continued faith in the resilience of the region’s economy, as well as a testament to our ongoing drive towards healthcare innovation in the UAE.”

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