Norton Rose Fulbright has advised private hospital and surgery centre Pulse Health on its $255 million bid for Vision Eye Institute, announced to the Australian Securities Exchange (ASX) on July 6.

Pulse told the ASX that the merger would create “one of Australia’s leading providers of specialist healthcare services through its combined network of niche hospitals, surgery centres and ophthalmic practices”.

Pulse has proposed to acquire all of the ordinary voting shares for the consideration of 1.60 fully paid ordinary shares in Pulse for each Vision Eye share.

The merged group would have “significant brownfield, greenfield and acquisitive growth opportunities supported by balance sheet capacity and an attractive capital markets profile,” Pulse told the ASX.

Norton Rose Fulbright partner James Stewart commented:

“It is pleasing to assist in Pulse pursuing its strategy for growth in the Australian health market, with a deal that has the potential to cement its prominence as a top specialist healthcare provider. The deal also played to Norton Rose Fulbright’s strengths. Life Sciences and Healthcare is one of our six global areas of industry focus, while our corporate team is one of the engine rooms of our Australian practice.”

Pulse chairman Stuart James told the ASX:

“We believe the merger creates a compelling opportunity for both Vision and Pulse shareholders through the creation of one of Australia’s leading providers of specialist healthcare services, with a broad network of niche hospitals, surgery centres and ophthalmic practices.”

James Stewart was the lead partner for the deal and was assisted by a team including partner Alen Pazin and senior associate Chris Mitchell.