Intermediate Capital : ICG announces strategic healthcare partnership with PresMed Australia

Wooseok Jun (Head of Asia Pacific Corporate) says, "ICGs investment in Australia is a continuation our successful track record within Australia's private health sector." ICG, the global alternative asset management company, announced today that its Asia Pacific Fund IV (the “Fund”) has invested with a consortium consisting of PresMed management and its doctor shareholders to purchase PresMed Australia Pty Ltd (“PresMed”) from Advanced Health Limited (JSE : AVL). This transaction marks the fifth acquisition of the Fund to-date. Marc Resnik founded PresMed in 1997. It is a premier provider of private day hospitals in Australia. PresMed's management will be able to continue to expand its market leadership by acquiring and developing more facilities. This transaction is based on ICG's extensive global healthcare experience as well as the Australasia team’s successful partnerships with healthcare teams after investments in Canopy Healthcare and Everlight Radiology. ICG is a strong regional presence, providing flexible capital to midmarket businesses in Australia, New Zealand and South Korea. They also support entrepreneurs and their management teams. Marc Resnik, PresMed MD stated: "We are thrilled to partner with ICG as it looks to accelerate PresMed’s growth alongside our doctor-partners. PresMed will benefit from ICG's deep knowledge of the healthcare sector. ICG is a strong partner in our mission to provide top-quality healthcare services throughout Australia. Wooseok Jun (Head of Asia Pacific Corporate at ICG) said: "PresMed is a highly-specialised private day hospital platform with outstanding leadership and a strong growth plan. ICG's investment in PresMed is a continuation to our success in Australia's private health sector. We look forward to working with Marc, the management and the outstanding doctor team at PresMed to expand their footprint. Contact ICG Clare Glynn at +44 (0)203545 2000 [email protected] ICG offers flexible capital solutions that help companies grow and develop. With $68.5bn in assets under management and capital investments across all capital structures, we are a global leader in alternative asset management. We have four asset classes: Structured & Private Equity, Private Debt and Real Assets. Credit is also available. To deliver long-term value to shareholders, clients, employees, and ourselves, we build relationships with business partners. We also use our influence to improve the environment and society. Our goal is to be a net zero asset manager for all of our operations and investments by 2040. ICG is listed on London Stock Exchange (ticker symbol ICP). More information is available at URL. Follow ICG on LinkedIn or Twitter. Disclaimer: ICG - Intermediate Capital Group plc published the content on 23/12/2022. It is solely responsible. Auto. 2 months 3 months 6 month 9 months 1 year 2years 5 years 10 years max. Mean consensus BUY Number Of Analysts 14 Last Close price 1 135,00 GBP Average target price 2 112,67 GBX Spread/Average Target 86,3%