G+T has advised Little Company of Mary Health Care Limited (also known as Calvary Health Care) on its acquisition of Japara Healthcare Limited (Japara) by way of scheme of arrangement, for approximately $380 million which was implemented on 5 November 2021.

Calvary is a charitable Catholic not-for-profit organisation with more than 12,000 staff and volunteers, 14 public and private hospitals, 17 retirement and aged care facilities and a national network of community care centres. Japara is an Australian aged care operator with one of the country’s largest private-sector residential aged care portfolios. It has been listed on the Australian Stock Exchange since 2014.

The G+T team was led by M&A partner Peter Cook, with lawyers Mary Brady, Ilona Hunnisett and Amelia Nichols advising on the deal. Charities partner Darren Fittler and graduate Karla Dunbar advised on the Charities aspects of the deal. Calvary also established new debt facilities in connection with the transaction and undertook an associated refinancing, with support from Banking + Projects partner John Schembri, lawyers Corrie Eames and James Lee and graduate Yuka Nagata.

Commenting on the deal, Peter Cook said “We understand this to be the first take private of a listed company by a charitable organisation. It was a unique deal and we are delighted at the outcome for Calvary.  Calvary’s strategy is centred on being the health community and aged care provider of choice, delivering quality care, with this acquisition allowing it to reach approximately 4,000 more aged care residents, while adding more than 6,000 employees and 50 properties to the Calvary Group and we were honoured to be involved.

Gilbert + Tobin’s Corporate team has advised on many of Australia’s largest and most innovative transactions across a broad range of industries, including recently advising Afterpay on its proposed $39 billion acquisition by Square, Inc., Telstra on $2.1 billion Digicel deal, PowAR consortium on its $3 billion take private of Tilt Renewables, MIRA and Aware Super on the $3.5 billion acquisition of Vocus. The team is recognised in the leading legal directories, including being recognised as Band 1 for Corporate/M&A by Chambers Asia-Pacific 2021.