The story
Healthscope is a private healthcare provider in Australia with 40 hospitals.
Formed in 1985, the Healthscope Group has a long history in the private health care industry, and was initially listed on the Australian Securities Exchange (ASX) in 1994.
In October 2010, the Healthscope business was acquired by a consortium of funds, advised and managed by TPG Capital and The Carlyle Group and was subsequently de-listed from the ASX. Following a period of successful growth under private ownership, the Healthscope business was re-listed on the ASX on 28 July 2014.
In July 2015, Healthscope sold its Australian Pathology division to Crescent Capital Partners.
In August 2017, Healthscope sold their Medical Centres portfolio to Singapore-based Fullerton Healthcare.
On 6 June 2019, Canadian firm Brookfield Business Partners announced completion of its takeover of Healthscope. Brookfield partnered with institutional investors including the Caisse de dépôt et placement du Québec, and the CDPQ maintains a minority stake in Healthscope.
On 16 March 2026, Healthscope announced that Tino La Spina had ceased as Chief Executive Officer, with Chief Operating Officer Nicole Waldron appointed Interim Chief Executive Officer.
On 26 May 2025, Healthscope went into receivership after its lenders voted to end their support for Brookfield, which had been unable to pay to keep facilities open. McGrathNicol were appointed receivers, with the Commonwealth Bank and Westpac, two of the lenders owed $1.6 billion. It comes during debate on whether the NSW Government should take over hospitals in NSW, and after recent critical failures such as the death of the two-year-old son of Elouise Massa who says the administration should stop 'the private equity firm Brookfield [from profiting from] the care of sick and injured Australians', and the bungled recovery and death from anaphylaxis of 17-year-old walk-in James Tsindos. KordaMentha were appointed administrators and Commonwealth Bank has injected an extra $100 million to keep the hospitals afloat, with assurances that the hospitals will run as per usual with no redundancies and pauses at this stage and only the ownership has collapsed.
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In 2026, receivers began to break up the company, with a not-for-profit among major bidders to take on the company's assets; 28 hospitals will be operated by Calvary Health. In April 2026, Northern Beaches Hospital was transferred from founding PPP to public hands by the NSW Government, following increasing pressure compounded by the operator's collapse.
In August 2026, it was revealed the receivers are in a bidding war between a proposed not-for-profit structure PurposeCo and a consortium of landlords and Calvary, weighing up a 2-year-long though higher return on investment as a not-for-profit and fierce opposition by private landlords.
Australian Managing director of major landlord Northwest Healthcare Richard Roos expressed regrets over a leaseback property deal with then-newly-heavily-debt-laden Healthscope in 2018, and expresses confidence in winning the ballot, as PurposeCo is being called an "interesting" construct to rely on charitable tax breaks to turn the business around at the expense of taxpayers.
On 14 September, it was announced the Calvary consortium won the bid, and that the company will be split between at least 4 operators, Calvary Health, Healthe Care, ACURIO and KnG Group. Creditors are expected to receive 40c to the dollar, as the consortium had to raise its bid to gain support.
The sale has sparked fears that Calvary will not honour gender-affirming care, abortion, IVF or contraception in Hobart Private Hospital. Tasmanian health minister Bridget Archer says she will make sure that Tasmania will not lose access to such services, whether it will be negotiations with Calvary or a private health system in the public health system.
Ownership
Healthscope was a public company whose stock was traded on the Australian Securities Exchange under the stock code HSP. The company completed an initial public offering in 1994 when it raised A$70 million by issuing 40 million shares at A$1.75 each. In 2010, Healthscope was acquired by the Carlyle Group. It was managed by TPG and the Carlyle Group and was later re-added to the ASX on 28 July 2014. From July 2014, Healthscope stock was again part of the S&P/ASX 200 Index under the stock code HSO. In June 2019, Healthscope was delisted again.
From Wikipedia’s article on Healthscope, shared under CC BY-SA 4.0.5