Street Talk

Adamantem, LVP trade Plena Healthcare to ASX-listed operator

Sarah Thompson, Kanika Sood and Emma Rapaport

Updated Jul 21, 2025 – 9.01am, first published at 8.04am

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Mid-market buyout firms Adamantem Capital and LVP (née Liverpool Partners) have inked a deal to sell allied health and home care provider Plena Healthcare, a unit of Zenitas Healthcare, which the two sponsors swept off the ASX boards in 2018.

Street Talk understands the deal, signed after market on Friday, will see Plena trade to ASX-listed Australian Unity for about $70 million. Completion is expected before the end of the year, and is subject to regulatory approvals.

Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.

Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.

Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.