Quadrant’s Partnered Health buys psychology platform
Quadrant Private Equity’s healthcare roll-up, Partnered Health, has acquired a psychology services platform in a small but strategic bolt-on acquisition.
NVP’s network spans 150 psychologists. Aresna Villanueva
The private equity firm has signed a deal to bring New View Psychology, a 17-year-old business that connects organisations with psychologists, into its stables. NVP acts as a bridge between its network of nearly 150 psychologists across the country and parties in need of their services, including GP clinics, corporates and Employee Assistance Program providers.
Its founder, Maria Mercuri, was a clinical practitioner for more than 17 years and is deeply involved with NVP. She was advised by boutique corporate advisory M&A Partners’ Antony Lynch, and David Hallam Lawyers provided legal advice. Quadrant used law firm King & Wood Mallesons.
It wouldn’t be surprising to see Quadrant roll out NVP’s platform across Partnered Health’s collection of more than 60 GP clinics. The PE firm bought Partnered Health (née Fullerton Health Australia) in late 2020 for about $500 million.
At the time, the integrated healthcare platform had more than 60 medical centres and 38 Jobfit corporate healthcare sites around the country, as well as physiotherapists and remote medical and rescue services. Quadrant managing partner Marcus Darville led the investment for the firm.
The business has been around since 2013, and includes practices that have served more than 5 million people for over 25 years. Its brands span Jobfit Health Group, Partnered Health Medical Centres, Baseline Onsite, Fuel Your Life, and Northcare Physio.
Quadrant is currently running an auction for aged care business myHomecare, which is expected to be worth about $400 million. Sell-side adviser Gresham Partners is due to collect binding bids by the end of November and Australian Unity is understood to have taken a look.
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