Healthscope wants to operate 2000 care beds. Their Arcare bid fails

Published on

The financial press has been alive this week with the failure of the big private hospital and pathology operator Healthscope, with a turnover of $900 million, in its proposed purchase of Victorian-based aged care operator Arcare, with 14 facilities and over 1000 staff. The professional investor institutions claim Healthscope, a public company, was paying up to 100% more than it should for Arcare. If it had gone ahead, the owners, John Russell, Graham Knowles and Ian Ball, would have made a killing. This would have been on top of the $329 million they received from Stockland when they sold their ARC group of villages exactly 2 years ago this week.
Healthscope CEO Bruce Dixon states they are ready to start construction of 400 beds immediately [given government approval].