TPG, Carlyle to price Healthscope IPO at upper-end of range - report

The target range for the shares was originally set at A$1.76 to A$2.29 per share. The pricing - as reported by Reuters - represents a premium to the A$1.99 billion they paid in 2010 to take the company private. The share price will give Healthscope a market capitalisation of A$3.65 billion.

TPG and Carlyle are understood to be retaining 38% of Healthscope, at the upper end of their target of holding between 25% to 40%.

Healthscope operates more than 4,500 inpatient beds in 33 hospitals, four dedicated mental health hospitals and four rehabilitation centers across Australia, as well as managing three hospitals on behalf of ACHA Group.

It also owns and operates around 60 medical centers and specialist skin clinics. Operations stretch to pathology, with services provided in Australia, New Zealand, Singapore and Malaysia, and residential and attendant care in Australia.

The company posted EBITDA of A$328.1 million for the year ended June 2013, up 8.3% year-on-year, while revenue increased 4.5% to A$2.2 billion.

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• Topics
• Exits
• Healthcare
• TPG Capital
• The Carlyle Group
• IPO
• Exit
• healthcare