Calvary wins control of Healthscope
Calvary Health Care has won the battle for Healthscope, with a consortium led by the Catholic not-for-profit set to take control of Australia’s second-largest private hospital operator.
The deal will see Calvary operate 14 of Healthscope’s 25 remaining hospitals, with Pacific Equity Partners’ Healthe Care taking six, Acurio Health three and KnG Group two.
Healthscope collapsed into receivership in May 2025 under more than $1.6 billion of debt, triggering a prolonged sale process for its hospital network.
The Calvary-led consortium beat a rival proposal from PurposeCo, which had sought to restructure Healthscope as a not-for-profit.
It is speculated to have been needed to increase its offer by $60m in recent weeks to secure lender backing. It had previously bid more than the $400m for the remaining Healthscope hospital operation.
Healthscope’s lenders are expected to recover about 40 cents in the dollar.
Hobart Private now not-for-profit backed
Calvary was last month allowed to buy Healthscope’s Hobart Private Hospital in Tasmania (continues below).
This final regulatory hurdle gives the not-for-profit control of every private overnight hospital in that city and Launceston.
Last December, it also agreed to buy the Holmesglen Private Hospital in Melbourne’s south-east.
The Healthscope transaction announced today is expected to complete by November 30.
Several landlords and major healthcare property investors have supported the Calvary-led proposal.
Amongst them is HMC Capital and NorthWest Healthcare Properties.
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