TriStar administration: clinics in doubt as company looks to sell

One of Victoria’s largest GP clinic chains was placed into administration last week, throwing the future of one Geelong clinic into the unknown.

One of Victoria’s largest GP clinic chains was placed into administration last week, owing more than $200,000 in payments to one landlord.

TriStar Medical Group, which operates 29 GP clinics across Victoria and NSW – including one in Grovedale – was placed under administrator McGrathNicol Restructuring on May 24.

The Grovedale clinic employs two GPs and a podiatrist, according to its website.

Tristar Medical Group was the only Mount Gambier GP with an appointment available within the week. Picture: Jessica Ball

McGrathNicol Restructuring partner Matthew Caddy said the main objective is to sell the business “in whole”, with the hope that the clinics may continue working under a new owner.

“Presently, the clinics are in the same state as they were when the company went into administration,” he said.

“Clinics that are open are maintaining the same clinical care that they would have been delivering (beforehand).

“It’s largely business as usual.”

Mr Caddy said there is an ongoing review to make sure each clinic is viable for purchase.

He said there is a “good to strong” level of interest from potential buyers.

“We’re pleased with the level of interest with parties looking to participate in the sales process,” he said.

“We’ll work with parties over the coming weeks to negotiate.

“We’re seeking to find one buyer to take on if not all, the majority of the business.”

He said a number of clinics had already closed due to not having a doctor available for the site, while in some instances, there were disputes with the landlord.

Mr Caddy said all staff – which totalled 225 plus 60 GPs as of last week – would be paid as normal while the company was under administration.

A meeting of creditors is due to take place on Friday.

Originally published as TriStar administration: clinics in doubt as company looks to sell