Sources said KordaMentha’s restructuring team has been in-and-around the business, advising on things like general business performance and financial modelling for individual hospitals.
As Brookfield’s Healthscope gets its ducks in a row ahead of a $1.6 billion restructure, another private hospitals group in Queensland has been mulling its future.Street Talk understands Mater Health, a Catholic not-for-profit hospitals group that traces its history back to 1906, has been working with KordaMentha’s restructuring experts to help it through a rough patch for the industry.
KordaMentha’s former head of its Queensland restructuring practice, Bill Buckley, is a director at Mater Foundation and has been involved with the Mater and its predecessors for more than a decade. The Mater may have an easier time than private equity-owned Healthscope in getting the government on its side. It owns its properties and hasn’t done any sale-and-leaseback deals. It also doesn’t have limited partners expecting a payday in a few years. In short, they are two very different beasts, but are battling a similar set of headwinds.
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