KKR takes majority stake in Australia’s GenesisCare
KKR has picked up a 63% interest in Australia’s GenesisCare, which provides services to patients with cancer and cardiovascular disease. It represents the latest in a string of healthcare sector deals by private equity firms, with TPG Capital and The Carlyle Group acquiring Healthscope in 2010 and Archer Capital buying Healthe Care from CHAMP Ventures last year.
Sources earlier told The Wall Street Journal that KKR would pay around 10x forward earnings. The company posted EBITDA of A$60 million ($60.3 million) for the most recent fiscal year, which implies a purchase...
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