Sonic Healthcare’s $600 million funding for acquisition of Aurora Diagnostics


G+T has advised Sonic Healthcare Limited (Sonic) on its $600 million placement and related share purchase plan (SPP) to fund the acquisition of Aurora Diagnostics.

Aurora Diagnostics is one of the leading pathology groups in the USA, comprising 32 community-based pathology practices with over 200 pathologists. The acquisition will create one of the largest pathologist groups in the world.

The acquisition will be the largest in Sonic’s history, and presents a unique and exciting opportunity to transform Sonic by adding scale and talent to their US operations and to differentiate Sonic’s Medical Leadership model in the USA.

G+T’s role included assisting Sonic and its board structuring its equity capital raising to determine the best solution having regard to the timing of the acquisition and current market volatility.

Sonic Healthcare Limited is a medical diagnostics company with operations in Australia, New Zealand, and Europe. The company, led by Colin Stephen Goldschmidt, Christopher David Wilks and Paul J Alexander, in 2017 recorded AU$ 5.507 Revenues.

The G+T team was led by Corporate Partners Costas Condoleon (Picture) and Adam D’Andreti supported by Anna De Navi, Wes Bainbridge and Anna Belgiorno-Nettis.

Involved fees earner: Wes Bainbridge – Gilbert + Tobin; Anna Belgiorno-Nettis – Gilbert + Tobin; Costas Condoleon – Gilbert + Tobin; Anna De Navi – Gilbert + Tobin; Adam D’Andreti – Gilbert + Tobin;

Law Firms: Gilbert + Tobin;

Clients: Sonic Healthcare;

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Author: Michael Patrini