Street Talk

Game on: Bupa taps Luminis, A&M for Healthscope tilt

Sarah Thompson, Kanika Sood and Emma Rapaport

May 13, 2025 – 12.13pm

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There’s no love lost between Bupa and Healthscope, the Brookfield-owned operator singling the health insurer out in an advertising campaign last year, accusing it of bleeding it dry. But what happens when your worst enemy becomes your best suitor?

On Monday, Street Talk revealed that St Vincent’s Health, Australia’s largest not-for-profit provider of health and aged care services, had brought in homegrown investment bank Barrenjoey Capital Partners to advise on a possible bid.

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.