Cura Day Hospitals Group (“Cura” or the “Company”) is pleased to announce that Intermediate Capital Group (“ICG”) has entered into a Share Purchase Deed to invest alongside a consortium of healthcare professionals including Peter Freeleagus, Doctor Shareholders and Cura Management to acquire up to 100% of the shares in Cura, subject to customary approvals.
ICG is a leading global alternative asset manager with over US$80 billion in assets under management. ICG has a wealth of experience in the healthcare sector, both globally and locally, having made a number of very successful investments in Australian and New Zealand based healthcare businesses.
The partnership between Cura and ICG is underpinned by leadership, resources, and experience to position the business for continued growth and success in the dynamic healthcare industry.
It is an exciting opportunity for Cura to accelerate its scale while simultaneously strengthening its ability to continue providing high quality, patient-centred care across the Group.
Andrew Currie, Cura’s Chief Executive Officer, said that Cura was delighted to find a partner whose strategic direction and commitment to clinical and operational excellence are aligned with Cura.
“Having previously partnered with Cura, when it owned the business together with Doctors and Management between 2014-2020, ICG has an extensive understanding of the business. ICG has a successful track record of investing capital to drive growth and creating meaningful partnerships with Cura's Doctors to deliver shareholder value.”
James Giannas, Managing Director leading the Australia / New Zealand team for ICG, said, “We look forward to re-establishing a strategic partnership with Peter Freeleagus and Cura’s Doctors as the business continues to grow its footprint. Cura’s market leading facilities and commitment to surgical excellence represents a high-quality specialised private day hospital platform with excellent leadership and a strong growth strategy.”
Wooseok Jun, ICG Head of Asia Pacific Corporate, added, “ICG’s investment is a continuation of our successful track record in Australia’s private healthcare sector and we are excited to support Cura through its next phase of growth. This partnership underpins ICG’s approach to supporting high quality businesses committed to delivering meaningful contributions to the markets we operate in.”