Private operator Healthscope sells New Zealand pathology business for $364m

Customary approval is expected to be completed within the next six months.

Australian private healthcare operator Healthscope has inked a deal to sell its New Zealand pathology business Asia Pacific Healthcare Group (APHG) to the NZ Super Fund and Ontario Teachers’ Pension Plan Board (Ontario Teachers) for $364m, a press release has confirmed.

NZ Super Fund and Ontario Teachers will each hold a 50% stake in the APHG. The deal is subject to customary approvals including approval from New Zealand’s Overseas Investment Office, slated for completion in the next six months.

APHG provides pathology services to 75% of New Zealand’s population with over 2,000 staff operating across its network of 25 laboratories and 150 collection centres, according to the press release. It has also been involved in providing COVID-19 testing as part of New Zealand’s response to the pandemic.