|Specialist Diagnostics and Day Surgery
|Australia and New Zealand
Healthbridge was formed by Ironbridge and Horizon Consulting to create a specialist healthcare business by acquisition and growth. The business commenced in 2008 with the purchase of Repromed, an in-vitro fertilization (“IVF”) practice. In 2009, the IVF business was expanded significantly in Australia via the acquisition of Monash IVF. In 2012 the business expanded into Asia via the acquisition of KL Fertility in Malaysia.
The businesses are complimentary and have been integrated as Healthbridge IVF. In April 2009 a new Pathology business (Diagnostics) was created. Major changes to the market regulations caused Healthbridge to re-evaluate the future of Diagnostics, resulting in its successful sale in January 2011.
In March 2010, Healthbridge purchased and later developed Healthbridge Hawthorn Private Hospital (“the Hospital”), an integrated women’s healthcare facility. Half of Monash IVF’s Victorian business moved to the Hospital along with a new obstetrics practice (“Cradle”). The hospital was sold in 2012 with Monash IVF remaining as a key tenant.
Ironbridge has previously generated successful returns in the healthcare sector and believes there is an opportunity to build a specialist healthcare business that has the potential to grow throughout Australia, New Zealand and Asia.
Ironbridge Value Added
The key value added from the Ironbridge team was as follows:
- Identifying a number of Monash IVF potential synergies / management cost efficiencies that total approximately $2.5m p.a.
- Introduced common financial reporting across the group and are working with Healthbridge shared services to develop a Healthbridge ESG framework.
- We have met with several doctor and healthcare management groups to discuss acquisition opportunities that would complement the business vision.