Australia's Archer agrees Healthe Care sale to China-based Luye
Archer Capital has agreed to sell Healthe Care, Australia’s third-largest private hospital group, to China-based Luye Medical Group, for $688 million. CITIC Private Equity is a shareholder in the company’s Hong Kong-listed affiliate, Luye Pharma.
Archer acquired Healthe Care from CHAMP Ventures in 2011, paying A$240 million (then $255 million). The company, founded in 2005, owns 17 hospitals with nearly 2,000 beds, 50 operating theaters and 4,500...
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