EBOS Group Limited (NZSE:EBO) entered into a share purchase agreement to acquire LifeHealthcare Group Limited from funds advised by Pacific Equity Partners and other minority holders for approximately AUD 1.2 billion on December 9, 2021. The consideration is subject to customary purchase price adjustments. EBOS will acquire 100% of LifeHealthcare's Australian & New Zealand subsidiaries and 51% of LifeHealthcare's Asian subsidiary, Transmedic, with the remaining 49% retained by the Transmedic co-founders. The acquisition will be fully funded through a combination of the proceeds of a non-underwritten retail offer to eligible existing shareholders to raise up to AUD 100 million, about AUD 642 million from a share placement, a new AUD 540 million term loan debt facility and 0.7 million new EBOS shares issued to LifeHealthcare management of worth about AUD 23 million. LifeHealthcare will continue to be led by Matt Muscio, who will report directly to John Cullity. The transaction is subject to regulatory approvals from FIRB and NZCC and a number of other conditions. The transaction is expected to be completed prior to end of FY2022. The transaction is expected to deliver low double digit percentage EPS accretion in CY22 on a pro forma basis. Macquarie Capital (Australia) Limited and Lazard Australia have acted as financial advisers to EBOS Group. Chapman Tripp and King & Wood Mallesons are acting as legal advisers to EBOS Group. Jefferies LLC acted as financial advisor to LifeHealthcare Group Limited. As on March 24, 2022, Australian Competition and Consumer Commission (ACCC) approved the transaction.

EBOS Group Limited (NZSE:EBO) completed the acquisition of LifeHealthcare Group Limited from funds advised by Pacific Equity Partners and other minority holders on May 31, 2022.