Luye Medical is understood to have hired Bank of America in addition to investment bank UBS for the initial public offering of assets within its Healthe Care hospitals business.
As investor meetings are held on Thursday, DataRoom understands that the value of the business – named Aurora Healthcare - will be up to $1bn.
It includes Healthe Care’s mental health, rehabilitation and Singapore-based oncology assets.
Excluded are its acute care hospitals.
The offering includes 25 sites, including 16 in Australia, with seven operating in the area of mental health, three in rehabilitation and six in the area of integrated mental health and rehabilitation.
The company generated $380m of revenue in 2019, 75 per cent of which was in Australia.
It has recorded average annual revenue growth of at least 25 per cent between 2015 and 2019.
Luye purchased Healthe Care from Archer Capital in 2015 for $938m.
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