Healthscope
{{Short description|Private healthcare provider in Australia}}
{{EngvarB|date=June 2018}}
{{Use dmy dates|date=June 2018}}
{{More citations needed|date=July 2015}}
{{Infobox company
| name = Healthscope
| logo = Healthscope logo.svg
| type = Subsidiary
| genre =
| fate = In Receivership
| foundation = {{Start date and age|1985|df=yes}}
| founder =
| location_city = 312 St Kilda Road, Melbourne
| location_country = Australia
| location =
| key_people = Tino La Spina (CEO)
| area_served =
| industry = Healthcare
| products =
| services = Private healthcare
| revenue =
| operating_income =
| net_income =
| num_employees =
| parent =
| divisions = Hospitals, Mental Health Clinics, Rehabilitation Centres
| subsid =
| owner = Brookfield Asset Management
| caption =
| homepage = {{url|healthscope.com.au/}}
| dissolved =
| footnotes =
}}
Healthscope is a for-profit Australian located, North American owned company which operates private hospitals and medical centres, as well as a number of psychiatric and rehabilitation hospitals. The company is headquartered on St Kilda Road, Melbourne.
In 2025 it was placed into receivership by lenders over A$1.6 billion in debt. McGrathNicol were appointed receivers-and-managers and KordaMentha were appointed administrators, with a further $100 million injected into the receivership by Commonwealth Bank to keep operations going.
History
Healthscope is a private healthcare provider in Australia with 41 hospitals.{{cite web |title=Annual Report 2017 |url=https://healthscope.com.au/application/files/3715/0344/5418/HS_Annual%20Report%20FY17_v15_FA_low.pdf |archive-url=https://web.archive.org/web/20170824052539/https://healthscope.com.au/application/files/3715/0344/5418/HS_Annual%20Report%20FY17_v15_FA_low.pdf |archive-date=August 24, 2017 |url-status=dead}}
Formed in 1985, the Healthscope Group has a long history in the private health care industry, and was initially listed on the Australian Securities Exchange (ASX) in 1994.
In October 2010 the Healthscope business was acquired by a consortium of funds, advised and managed by TPG Capital and The Carlyle Group and was subsequently de-listed from the ASX. Following a period of successful growth under private ownership, the Healthscope business was re-listed on the ASX on 28 July 2014.
In July 2015 Healthscope sold its Australian Pathology division to Crescent Capital Partners.{{cite web | last=Binsted | first=Tim | title=Healthscope sells pathology arm to Crescent Capital for $105m | website=Australian Financial Review | date=2015-06-22 | url=https://www.afr.com/markets/equity-markets/healthscope-sells-pathology-arm-to-crescent-capital-for-105m-20150623-ghuzxs | access-date=2024-07-05 | archive-date=5 July 2024 | archive-url=https://web.archive.org/web/20240705182636/https://www.afr.com/markets/equity-markets/healthscope-sells-pathology-arm-to-crescent-capital-for-105m-20150623-ghuzxs | url-status=live }}
In August 2017, Healthscope sold their Medical Centres portfolio to Singapore-based Fullerton Healthcare.{{Cite web|url = http://www.businesstimes.com.sg/companies-markets/fullerton-healthcare-buys-medical-centre-operations-of-australias-healthscope|title = Fullerton Healthcare buys medical centre operations of Australia's Healthscope|date = 18 August 2017|access-date = 23 August 2017|archive-date = 24 August 2017|archive-url = https://web.archive.org/web/20170824052711/http://www.businesstimes.com.sg/companies-markets/fullerton-healthcare-buys-medical-centre-operations-of-australias-healthscope|url-status = live}}
On 6 June 2019, Canadian firm Brookfield Business Partners announced completion of its takeover of Healthscope.{{cite web |url=https://bbu.brookfield.com/press-releases/2019/06-06-2019-114420871 |website=Brookfield Business Partners |access-date=1 August 2019 |title=Brookfield Business Partners Completes Acquisition of Healthscope |archive-date=7 July 2024 |archive-url=https://web.archive.org/web/20240707021016/https://bbu.brookfield.com/bbu/news-events/press-releases |url-status=live }} Brookfield partnered with institutional investors including the Caisse de dépôt et placement du Québec, and the CDPQ maintains a minority stake in Healthscope.{{cite web |title=CDPQ closes investment in Australian private hospital operator Healthscope |url=https://www.cdpq.com/en/news/pressreleases/cdpq-closes-investment-in-australian-private-hospital-operator-healthscope |website=Caisse de dépôt et placement du Québec |access-date=16 February 2020 |language=en |date=29 August 2019 |archive-date=16 February 2020 |archive-url=https://web.archive.org/web/20200216184520/https://www.cdpq.com/en/news/pressreleases/cdpq-closes-investment-in-australian-private-hospital-operator-healthscope |url-status=live }}
On 26 May 2025, Healthscope went into receivership after its lenders voted to end their support for Brookfield, which had been unable to pay to keep facilities open. McGrathNicol were appointed receivers, with the Commonwealth Bank and Westpac, two of the lenders owed $1.6 billion.{{Cite web |last=Aubusson |first=Kate |last2=Kruger |first2=Colin |date=2025-05-26 |title=Banks step in to keep Healthscope running as receivers appointed |url=https://www.theage.com.au/business/companies/banks-step-in-to-keep-healthscope-running-as-receivers-appointed-20250526-p5m25x.html |access-date=2025-05-26 |website=The Age|language=en}}{{failed verification|date=May 2025}}{{cite web|url=https://www.abc.net.au/news/2025-05-26/private-hospital-operator-healthscope-collapses/105336258|title=Private hospital operator Healthscope collapses into receivership|publisher=ABC News (Australia)|first1=Micheal|first2=Stephen|last1=Janda|last2=Letts}} It comes during debate on whether the NSW Government should take over hospitals in NSW, and after recent critical failures such as the death of the two year old son of Elouise Massa who says the administration should stop 'the private equity firm Brookfield [from profiting from] the care of sick and injured Australians', and the bungled recovery and death from anaphylaxis of 17-year-old walk-in James Tsindos.{{cite news|url=https://www.news.com.au/lifestyle/health/gonna-die-teens-last-words-revealed-as-his-parents-push-private-hospital-operator-healthscope-for-answers-following-his-death/news-story/e377f6ccbd4efbe5ec6c6f804d20321d|title=‘Gonna die’: Teen’s last words revealed as his parents push private hospital operator Healthscope for answers following his death|publisher=News.com.au|first=Clareese|last=Parker}} KordaMentha were appointed administrators and Commonwealth Bank has injected an extra $100 million to keep the hospitals afloat, with assurances that the hospitals will run as per usual with no redundancies and pauses at this stage and only the ownership has collapsed.
=Ownership=
Healthscope was a public company whose stock was traded on the Australian Stock Exchange under the stock code HSP. The company completed an initial public offering in 1994 when it raised A$70 million by issuing 40 million shares at A$1.75 each. In 2010, Healthscope was acquired by The Carlyle Group. It was managed by TPG and The Carlyle Group and was later re-added to the ASX on 28 July 2014. From July 2014, Healthscope stock was again part of the S&P/ASX 200 Index under the stock code HSO.{{cite web |url=http://www.abc.net.au/news/2014-07-29/healthscope-float3a-first-day-success-sign-of-more-ipos-to-come/5631184 |title=Healthscope float: first day success sign of more IPOs to come – ABC News (Australian Broadcasting Corporation) |publisher=Australian Broadcasting Corporation |date=29 July 2014 |access-date=6 April 2016 |archive-date=1 November 2016 |archive-url=https://web.archive.org/web/20161101064813/http://www.abc.net.au/news/2014-07-29/healthscope-float3a-first-day-success-sign-of-more-ipos-to-come/5631184 |url-status=live }} As at June 2019, Healthscope was removed from the official list of ASX traded companies as they were acquired by Brookfield.{{cite web |url=https://www.asx.com.au/asx/statistics/announcements.do?by=asxCode&asxCode=HSO&timeframe=D&period=M6 |title=Company Announcements for HEALTHSCOPE LIMITED (HSO). |publisher=Australian Stock Exchange |date=11 June 2019 |access-date=12 August 2019 |archive-date=9 October 2018 |archive-url=https://web.archive.org/web/20181009124006/https://www.asx.com.au/asx/statistics/announcements.do?by=asxCode&asxCode=HSO&timeframe=D&period=M6 |url-status=live }}
Hospitals and facilities run by Healthscope
{{citations needed|section|date=May 2025}}
=Hospitals=
Healthscope operates and manages 41 private hospitals in Australia, which includes twelve mental health facilities, and six rehabilitation hospitals{{cite web |title=Services Overview |url=https://healthscopehospitals.com.au/services |website=Healthscope Hospitals |access-date=4 May 2021 |language=en |date=4 May 2021 |archive-date=4 May 2021 |archive-url=https://web.archive.org/web/20210504165435/https://healthscopehospitals.com.au/services |url-status=live }} as well as managing 15 residential care houses through Healthscope Independence Services.{{cite web |title=Residential Houses |url=https://healthscopeindependenceservices.com.au/residential-houses |website=Healthscope Independence Services |access-date=4 May 2021 |language=en |date=4 May 2021 |archive-date=4 May 2021 |archive-url=https://web.archive.org/web/20210504015150/https://healthscopeindependenceservices.com.au/residential-houses |url-status=live }}
- Queensland
- Brisbane Private Hospital
- Gold Coast Private Hospital (previously Allamanda Private Hospital)[http://www.goldcoastbulletin.com.au/news/healthscope-to-fast-track-gold-coast-private-hospital-after-confirming-allamanda-closure/news-story/a955477933a9356a279a2a63dbc538c9?nk=0ed1248f473e7fb94bc491cce1838f91-1459758351 Lucy Ardern, Healthscope to fast track Gold Coast Private Hospital after confirming Allamanda closure, (23 April 2015)], Gold Coast Bulletin. Retrieved 4 April 2016
- Pacific Private Hospital
- Peninsula Private Hospital
- Pine Rivers Private Hospital
- Sunnybank Private Hospital
- New South Wales
- Campbelltown Private Hospital
- Lady Davidson Private Hospital
- Hunter Valley Private Hospital{{cite web |author=Tim Binsted |url=http://www.smh.com.au/business/healthscope-snaps-up-hunter-valley-hospital-for-713m-20151118-gl2kd5.html |title=Healthscope buys Hunter Valley Private hospital for $71.3m |work=The Sydney Morning Herald |date=19 November 2015 |access-date=6 April 2016 |archive-date=5 August 2016 |archive-url=https://web.archive.org/web/20160805172014/http://www.smh.com.au/business/healthscope-snaps-up-hunter-valley-hospital-for-713m-20151118-gl2kd5.html |url-status=live }}
- Nepean Private Hospital
- Newcastle Private Hospital
- Northern Beaches Hospital
- Norwest Private Hospital
- Prince of Wales Private Hospital
- Sydney Southwest Private Hospital
- The Hills Private Hospital
- The Sydney Clinic
- Tweed Day Surgery
- Australian Capital Territory
- National Capital Private Hospital
- Victoria
- Bellbird Private Hospital site reverted to Eastern Health
- Dorset Rehabilitation Centre
- Frankston Private Hospital site reverted to Peninsula Health
- Geelong Private Hospital. Closed: site reverted to Barwon Health
- Holmesglen Private Hospital{{Cite news|url = http://www.heraldsun.com.au/leader/news/federal-health-minister-opens-new-private-training-hospital-in-moorabbin-with/news-story/7c30e85ba260f3e111dc469a13b93842|title = Homesglen Private Hospital officially opened|newspaper = Herald Sun|date = 26 April 2017|last1 = Bidey|first1 = Sam|access-date = 23 August 2017|archive-date = 1 May 2017|archive-url = https://web.archive.org/web/20170501112711/http://www.heraldsun.com.au/leader/news/federal-health-minister-opens-new-private-training-hospital-in-moorabbin-with/news-story/7c30e85ba260f3e111dc469a13b93842|url-status = live}}
- John Fawkner Private Hospital
- Knox Private Hospital
- La Trobe Private Hospital
- Melbourne Private Hospital
- North Eastern Rehabilitation Centre
- Northpark Private Hospital
- Ringwood Private Hospital
- The Geelong Clinic
- The Melbourne Clinic
- The Victoria Clinic
- The Victorian Rehabilitation Centre
- Tasmania
- Hobart Private Hospital
- St Helen's Private Hospital (Mental Health facility)
- South Australia
- Adelaide Community Healthcare Alliance
- Ashford Hospital
- Flinders Private Hospital
- The Memorial Hospital
- Griffith Rehabilitation Hospital
- Parkwynd Private Hospital. Closed in April 2021 {{Cite web|url = https://parkwyndprivatehospital.com.au/internal-page/parkwynd-private-announcement|title = Healthscope announces closure of Parkwynd Private Hospital|date = 4 May 2021|access-date = 4 May 2021|archive-date = 4 May 2021|archive-url = https://web.archive.org/web/20210504015151/https://parkwyndprivatehospital.com.au/internal-page/parkwynd-private-announcement|url-status = live}}
- Western Australia
- Mount Hospital
- Northern Territory
- Darwin Private Hospital
= Mental Health Services=
Healthscope Hospitals is the largest operator of private inpatient mental health facilities in Australia with 12 hospitals providing care.
Healthscope Hospitals provide treatment for mental health issues and for substance use disorders.
Healthscope Hospitals offering Mental Health Services
- Brisbane Private Hospital (Brisbane, Qld)
- Campbelltown Private Hospital (Campbelltown, NSW)
- Northpark Private Hospital (Bundoora, Vic)
- Pine Rivers Private Hospital (Strathpine, Qld)
- St Helen's Private Hospital (Hobart)
- Sydney Southwest Private Hospital (Liverpool, NSW)
- The Geelong Clinic (Geelong, Vic)
- The Hills Private Hospital (Baulkham Hills, NSW)
- The Melbourne Clinic (Richmond, Vic)
- The Sydney Clinic (Randwick, NSW)
- The Victoria Clinic (Prahran, Vic)
- The Darwin Clinic (Darwin, NT) {{Cite web | url=https://www.ntnews.com.au/news/northern-territory/the-darwin-clinic-nts-first-private-mental-health-facility/news-story/063f9c96d2d076ce2fa8fd634f161c69 |title = The Darwin Clinic NT's first private mental health facility|date = 4 May 2021}}
The programs available at Healthscope Hospitals include:
- Mood & Anxiety Disorders
- Eating Disorders
- Addiction Services
- Post Traumatic Stress Disorder (PTSD)
- Personality Disorders
- Aged Psychiatry
- Psychosis Obsessive Compulsive Disorder (OCD)
- Postnatal Depression
- Innovative Treatments for Depression (TMS)
=Rehabilitation Services=
Healthscope Hospitals offering Rehabilitation Services
- Brisbane Private Hospital (Brisbane, Qld)
- Campbelltown Private Hospital (Campbelltown, NSW)
- Darwin Private Hospital (Darwin, NT)
- Dorset Rehabilitation Centre (Pascoe Vale, Vic)
- Geelong Private Hospital (Geelong, Vic)
- Griffith Rehabilitation Hospital (Hove, SA)
- Gold Coast Private Hospital (Southport, Qld)
- Hobart Private Hospital (Hobart, Tas)
- Hunter Valley Private Hospital (Newcastle, NSW)
- Lady Davidson Private Hospital (North Turramurra, NSW)
- Mount Hospital (Perth, WA)
- National Capital Private Hospital (Canberra, ACT)
- Newcastle Private Hospital (Newcastle, NSW)
- North Eastern Rehabilitation Centre (Ivanhoe, Vic)
- Peninsula Private Hospital (Kippa-Ring, Qld)
- Sunnybank Private Hospital (Sunnybank, Qld)
- The Hills Private Hospital (Baulkham Hills, NSW)
- The Victorian Rehabilitation Centre (Glen Waverley, Vic)
=Healthscope Pathology=
In July 2015 Healthscope sold its Australian Pathology business to Crescent Capital Partners. Healthscope sold its New Zealand pathology business in August 2020 to NZ Super.{{cite web |url=https://www.afr.com/street-talk/healthscope-nz-super-agree-nz570m-pathology-deal-20200804-p55ian |title=Healthscope, NZ Super agree $NZ570m pathology deal |publisher=Australian Financial Review |date=4 August 2020 |access-date=4 May 2021 |archive-date=4 May 2021 |archive-url=https://web.archive.org/web/20210504024520/https://www.afr.com/street-talk/healthscope-nz-super-agree-nz570m-pathology-deal-20200804-p55ian |url-status=live }}
=Healthscope Medical Centres=
In August 2017, Healthscope sold their Medical Centres division including a portfolio of 43 medical centres, four specialist skin clinics and one specialist breast diagnostic clinic to Fullerton Health Care.
=Healthscope Independence Services=
Healthscope Independence Services is a provider of unique accommodation, attendant care and in-home services to individuals with acquired brain injuries, other disabilities or complex conditions and others leaving hospital requiring extra support at home.
Healthscope Independence Services provides long-term, short-term, transitional and respite options in metropolitan Melbourne, regional Victoria, New South Wales and Darwin in the Northern Territory.
References
{{Reflist}}
External links
- {{official|http://www.healthscope.com.au/ }}
- [https://web.archive.org/web/20060819190630/http://gribbles.com.au/profile.htm The web site for the Gribbles Group]
- [http://www.uow.edu.au/~bmartin/dissent/documents/health/healthscope_story.html/ The Healthscope Story]
- [http://www.uow.edu.au/~bmartin/dissent/documents/health/healthscope_cult.html/ Healthscope Culture and People]
{{S&P/ASX 200}}
Category:Brookfield Corporation
Category:Companies based in Melbourne
Category:Companies formerly listed on the Australian Securities Exchange
Category:Health services companies of Australia
Category:1985 establishments in Australia