HDY instrumental in strategic acquistion
18 March 2015
Henry Davis York has acted for the Sydney Ultrasound for Women partnership (SUFW) during its acquisition by Monash IVF Group.
Under the terms of the agreement, Monash IVF Group will acquire 100% of SUFW for a total consideration of $30.1 million. Monash IVF Group will provide a $24.1 million cash payment as part of the acquisition terms. The remaining $6 million will be issued in the form of fully paid ordinary shares to an aggregate of 53.3% which will be escrowed until the release of Monash IVF Group’s FY16 results.
As long standing legal advisors to SUFW, Henry Davis York advised in relation to the terms of the transaction, prepared the transaction documents and guided the vendors through the lengthy negotiation, due diligence and sale process.
SUFW is a specialist women’s imaging business in NSW with ten practices in the Sydney metropolitan area. In FY14 SUFW generated $19 million in revenue and attended to 57,500 scans. This acquisition will expand Monash IVF Group’s reach across NSW and Victoria and ultimately broaden its range of services to patients.
Dr Rob Robertson, Managing Partner of SUFW said: “This is a great fit for us as we share the same commitment to scientific excellence and innovation that Monash IVF Group has forged its reputation on.”
Henry Davis York Partner, Robert Tracy, who led the legal team, said: “This is a strategic move for Sydney Ultrasound for Women who will be able to expand their service offerings with the backing and support of Monash IVF Group. We are extremely pleased that our negotiations contributed to a positive outcome for both parties.”
For further information contact:
Head of Communications
Henry Davis York
61 2 9947 6568
61 408 939 226