Healthcare Australia

Background

Healthcare Australia (�HCA�) is a leading healthcare service provider, managing the supply and coordination of staff across various healthcare disciplines in every Australian state and territory. Following a restructure of the company in 2014, advised on by 333 Capital, the Company had performed strongly and its UK hedge fund Shareholders were considering exit options.

333 Capital were approached by the Shareholders, along with a number of other financial advisors, to pitch on our approach to a sale process. We were ultimately successful in winning the mandate as exclusive sale advisor, primarily due to our track record of delivering successful outcomes for the Shareholders on previous engagements with HCA.

Our role

333 Capital ran a comprehensive international sale process including:

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• Conducting pre-deal meetings with various potential parties to gauge interest and encourage their involvement.
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• Preparing all sales documents, including assisting with the preparation of a five year strategic plan.
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• Engagement and management of other advisors to prepare financial and legal vendor due diligence reports.
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• Developing and managing the deal strategy and tactics resulting in competitive tension being maintained throughout the process.
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• Managed the data room and QA process to allow Management to focus on running the business.
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• Advised on the sale strategy including completion mechanics and documentation.
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• Advising the Shareholders on and undertaking various stages of deal negotiations.
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The result

The process led to a successful sale of the Company to a private equity firm for over $200 million. This was above all the Shareholders initial pricing expectations. Despite pressure from bidders throughout the process to work exclusively with certain parties, 333 Capital were able to maximise the number of interested parties engaged in the process and maintain competitive tension until the contracts were signed.