Private-equity firms TPG Capital and Carlyle Group LP sounded
out investors in Asia last week about an initial public offering of
Australian hospital operator Healthscope, a listing that could
value the company at as much as five billion Australian dollars
(US$4.7 billion), a person familiar with the matter said.
TPG and Carlyle have been considering either an IPO or the sale
of the company to a strategic buyer or buyers, but an IPO appears
to be the most likely option, the person said. It wasn't
immediately clear when the IPO would take place.
Healthscope is one of the largest hospital and pathology
companies in Australia. It has 33 hospitals, four mental-health
hospitals and four rehabilitation facilities. Healthscope also
operates pathology businesses in New Zealand, Malaysia, Singapore
and Vietnam.
TPG and Carlyle have been actively exploring an initial public
offering of Healthscope. The firms have appointed Macquarie and UBS
to run a potential listing while Bank of America, Credit Suisse and
Goldman Sachs are also working on a deal, a person familiar with
the matter said previously. The hospital company's management has
spoken to potential cornerstone investors in Asia, the Middle East
and the U.S., a person familiar with the situation told The Wall
Street Journal.
TPG and Carlyle bought Healthscope for about US$1.7 billion in
2010, beating out a rival offer from Kohlberg Kravis Roberts &
Co. Strategic buyers such as Dallas, Texas-based Tenet Healthcare
Corp. also considered bids at the time.
Write to Cynthia Koons at cynthia.koons@wsj.com
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