Deals
Aussie Pensions Buy New Zealand’s No. 2 Hospital System Evolution Healthcare
This article is for subscribers only.
Australian pension funds QIC Ltd. and Sunsuper Superannuation Fund have struck a deal to acquire New Zealand’s second-largest hospital operator, Evolution Healthcare, the firms said on Friday.
The pair will pay close to A$700 million ($500 million) for the business under which 300 surgeons performed more than 57,000 elective operations in the last financial year, according to a person familiar with the matter. The retirement funds together are looking to put money toward what they describe as a mega-trend for healthcare demand stemming from an aging population across the region.