Healthscope and ANZ Hospitals - Voluntary Administration

Healthscope and ANZ Hospitals, Australia's second-largest private hospital operator with a network of 37 hospitals that service every state and territory, entered voluntary administration on 26 May, with Mark Korda, Craig Shepard, Andrew Knight and Lara Wiggins of KordaMentha appointed as administrators.

According to its website, Healthscope — which was acquired by private equity group Brookfield in 2019 — has created jobs for over 19,000 people and provides work for nearly as many accredited medical practitioners.

The administration follows the appointment of McGrathNicol as receivers, who are now seeking buyers for the 37 hospitals which are continuing to operate with an additional $100 million in funding from the Commonwealth Bank.

Unfortunately, Healthscope’s administration appears to only be the tip of the iceberg for the industry, with the Australian Private Hospitals Association reportedly saying it has knowledge of another eight private hospitals which are earmarked for closure.