MinterEllisonRuddWatts has advised Fisher Funds and Direct Capital on their agreement to acquire New Zealand Health Group, one of New Zealand’s largest providers of community health, disability and wellbeing services.
The transaction will see Fisher Funds and Direct Capital partner with existing shareholder Josephine Gagan in the ownership of New Zealand Health Group.
New Zealand Health Group supports more than 60,000 New Zealanders each year and employs more than 10,000 people across the country. Its services span home and community support, disability support, rehabilitation, mental health and behavioural support, health staffing, workplace support, sector training, private care and medical alarms.
This marks Fisher Funds’ first direct investment in a New Zealand business since it announced the expansion of its private equity programme last year. Direct Capital’s investment will be the third from Direct Capital VII, its latest $525 million fund.
The new shareholders will work alongside New Zealand Health Group’s management team to support the organisation’s continued growth and delivery of services to New Zealanders.
Partner Mark Forman led the MinterEllisonRuddWatts team advising Fisher Funds and Direct Capital on the transaction.
“We are delighted to have supported Fisher Funds and Direct Capital on this significant transaction. New Zealand Health Group is an important provider of health and support services across the country, and this investment brings together experienced New Zealand investors to support the business in its next phase of growth,” says Mark Forman.
The firm’s deal team also included Partner Allison Hancock, Senior Associate Jo Carrick-Anderson, and solicitors Tomas Roche and Caitlin Read.
The transaction remains subject to meeting conditions and is expected to complete in the coming months.
