A medical centre network backed by private equity powerhouse BGH Capital has won tenders to operate a third of Labor’s urgent care clinics and is set to get a boost from $8.5 billion in new Medicare incentives that encourage operators to slash out-of-pocket fees for patients.
A BGH Capital fund bought ForHealth for $500 million in 2020 and has supercharged its financial performance during the Albanese government’s first term in part through successfully bidding to run 30 urgent care clinics around the country, including half of the footprint in Queensland, South Australia and NSW.
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Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
