Gilbert + Tobin has advised Medical Specialists and Management shareholders on EQT’s acquisition of Icon Group, from a consortium comprising of Goldman Sachs Asset Management, QIC and Pagoda Investments. EQT is one of the highly active private equity investors in the healthcare industry.

Providing radiation and day oncology services, Icon Group is Australia’s largest cancer care service provider with an established global network of cancer centres and clinical research hubs in Singapore, Mainland China, Hong Kong, and New Zealand. This new investment will allow Icon Group to continue its global expansion throughout Asia and deeper into the northern hemisphere.

The G+T team was led by Corporate Advisory partner Adam Laura, with support from lawyers Michael McDonald and Srivatsav Moorthy.

Adam said “We are delighted to have assisted on this transaction and are excited to see the next phase of growth for the Icon Group under EQT ownership.”

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.

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