Hamilton Locke has advised MA Growth Ventures on an A$20m growth capital investment into the DoctorSquare group. We then advised DoctorSquare on the acquisition of the 24-7 Healthcare Group from Crescent Capital Partners. Commonwealth Bank Australia’s CommBank Health division provided financing for the acquisition.
Led by experienced GPs, Dr James Liang, and Dr Jonathan Brown, DoctorSquare aims to improve access to after-hours medical care, reduce emergency department admissions, and provide accessible, prompt care for patients whether it be delivered in person, at home, or via telehealth.
The 24-7 Healthcare business includes medical deputising service, 13Sick, a privately funded telehealth consultation provider, 24-7MedCare, and National Home Nurse, which provides registered nurses to attend patient’s homes.
Commenting on the transaction Josh Bell, Special Counsel said: “We are delighted to have been involved in this complex, multifaceted transaction which involved a structured growth capital financing and M&A acquisition. It was a pleasure to work closely with Will Botha, Richard Du, and the MA Growth Ventures team, Dr James Liang, Dr Jonathan Brown and the DoctorSquare team, and all the advisors and stakeholders who were involved to work collaboratively together to execute the transaction successfully. We are excited by the vision of the DoctorSquare and MA teams for the 13Sick business as they seek to improve access to bulk-billed after-hours healthcare”.
The MA Growth Ventures team, which provides flexible growth equity or growth credit solutions in the A$10m – $30m range, was led by Will Botha and Richard Du.
The Hamilton Locke multidisciplinary deal team was led by Joshua Bell, Special Counsel, and included Brent Delaney, Partner, and Lorenzo Ricchi, Lawyer. Lauren Cloete, Partner, led the finance workstream and was supported by Emil Conradie, Senior Associate, and Eric Ng, Lawyer.
