M&A Deal Summary

TPG Acquires Pathology Asia

On July 30, 2018, private equity firm TPG acquired healthcare services company Pathology Asia from Healthscope for 279M AUD

Acquisition Highlights
  • This is TPG’s 17th transaction in the Healthcare Services sector.
  • This is TPG’s 96th largest (disclosed) transaction.
  • This is TPG’s 4th transaction in Singapore.

M&A Deal Summary

Date 2018-07-30
Target Pathology Asia
Sector Healthcare Services
Buyer(s) TPG
Sellers(s) Healthscope
Deal Type Divestiture
Deal Value 279M AUD

Target

Pathology Asia

Singapore, Singapore
Pathology Asia is one of the largest diagnostic service providers in Southeast Asia with laboratories in Singapore, Malaysia, Vietnam, and Australia. Pathology Asia was founded in 2018 and is based in Singapore.

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Buyer(S) 1

Buyer

TPG

Fort Worth, Texas, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 137.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TPG Capital is a global, mega-sized private investment firm that manages a family of funds focused on private equity, real estate, venture capital, public equity and debt investing. TPG invests in opportunities across a broad range of industries and geographies. TPG generally seeks to invest in established businesses that can benefit from the Firm's operational experience and connections. Industries of interest include consumer, retail, healthcare, industrials, digital media, natural resources, energy, real estate, technology, and software. TPG was formerly known as Texas Pacific Group and was originally established in 1992 by David Bonderman, James Coulter and William Price. The Firm is based in Forth Worth, Texas with additional offices in Europe, Asia, and Australia.


DEAL STATS #
Overall 337 of 421
Sector (Healthcare Services) 17 of 23
Type (Divestiture) 29 of 35
Country (Singapore) 4 of 6
Year (2018) 27 of 33
Size (of disclosed) 96 of 105
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-30 Discovery Midstream

Dallas, Texas, United States

Discovery Midstream is a provider of oil and natural gas gathering and natural gas processing services in the southern portion of Colorado’s Denver-Julesburg Basin. Discovery Midstream is based in Dallas, Texas.

Sell $1.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-31 Eze Software

Boston, Massachusetts, United States

Eze Castle Software LLC is a provider of investment management software solutions designed to optimize operational and investment alpha throughout the entire investment process. Eze Software provides the platform for growth for the entire investment management community, maximizing efficiencies across order management, trade execution & analytics, portfolio analytics & modeling, compliance & regulatory reporting, commission management, and portfolio & investor accounting. Eze Castle Software was formed in 1995 and is based in Boston, Massachusetts.

Sell $1.5B

Seller(S) 1

SELLER

Healthscope

Melbourne, Australia

Category Company
Founded 1985
Sector Healthcare Services
Revenue 2.2B AUD (2013)
DESCRIPTION

Healthscope is a healthcare operator that uniquely operates in every state and territory within Australia, as well as in Asia. The company's reach of facilities around Australia firmly places Healthscope as one of Australia's largest private hospital providers. Healthscope was founded in 1985 and is based in Melbourne, Australia.


DEAL STATS #
Overall 3 of 4
Sector (Healthcare Services) 2 of 3
Type (Divestiture) 3 of 4
Country (Singapore) 1 of 1
Year (2018) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-13 Healthscope - Queensland Pathology Assets

Melbourne, Australia

Healthscope's Queensland Pathology Assets is a provider of pathology services to public hospitals.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-04 Asia Pacific Healthcare Group

Auckland, New Zealand

Asia Pacific Healthcare Group provides pathology services to 75 percent of New Zealand’s population with over 2,000 staff operating across its network of 25 laboratories and 150 collection centers. Asia Pacific Healthcare Group is based in Auckland, New Zealand.

Sell -