St John of God Health Care
Sale of St John of God Pathology to Australian Clinical Laboratories
On 22 June 2016, St John of God Health Care (SJGHC) announced that it had entered into an agreement to sell its pathology division, St John of God Pathology (SJGP) to Australian Clinical Labs (Clinical Labs). SJGP is the fourth largest pathology provider nationally with 19 laboratories, over 180 collection centres and more than 1,200 employees operating in Victoria and Western Australia. Clinical Labs is majority owned by Sydney based private equity firm Crescent Capital Partners.
As part of the agreement, SJGHC will acquire a minority shareholding in Clinical Labs. Clinical Labs will also have a long term contract to provide pathology services to SJGHC hospitals.
The transaction completed on 10 October 2016.
Azure Capital advised St John of God Health Care on all aspects of the transaction including valuation and strategic advice, structuring, coordination of due diligence and negotiation of the relevant transaction agreements.