KKR, a leading global investment firm, and Family Doctor Pty Ltd., a leading group of general practitioner (GP) clinics in Australia, on Sunday announced a bespoke financing solution to the tune of $186 million by KKR (through funds managed by KKR) to Family Doctor.
KKR’s bespoke financing solution positions the Family Doctor to accelerate its growth and expansion, including through acquisitions, the company said.
Founded in 2008, Family Doctor provides comprehensive medical care services through its network of more than 110 GP-run clinics located in key metropolitan and regional areas across Australia, including Victoria, Queensland, Western Australia, New South Wales, the Australian Capital Territory, and South Australia.
KKR’s Asia Pacific Credit platform seeks to provide, among other private credit strategies, bespoke solutions to high-quality companies, entrepreneurs and sponsors that harness the strength of KKR’s private markets investment capabilities and its expertise as one of the largest alternative credit managers globally.
These bespoke structures allow entrepreneurs to retain equity ownership and control in their businesses whilst accessing deep capital pools that allow them to meet their objectives to invest in growth or return capital to shareholders.
KKR is making its investment from its Asia Pacific Credit strategy. In Australia, KKR has provided bespoke solutions to DBG Health (a leading pharmaceutical company) and Lendi (a leading fintech), and financings to companies and sponsors across a range of industries and private credit strategies. Since 2019, KKR has closed more than 50 credit investments in Asia Pacific, accounting for a total transaction value of close to $21 billion.
Investing in Home-Grown Champions
Diane Raposio, Partner and Head of Asia Credit and Markets, KKR, said that they were pleased to provide a bespoke financing solution to Family Doctor and Dr Rodney Aziz, who has established one of Australia’s leading networks of GP clinics.
He added: “Our investment builds on our experience and ability to work with home-grown champions and entrepreneurs in Australia, a key market for KKR across multiple private credit strategies. We look forward to sharing our global network and expertise to support the Company on their mission to extend high-quality patient care and their expansion plans.”
Dr Rodney Aziz said that over the last more than 17 years, they have grown from a single clinic to one of Australia’s largest medical centre groups. The bespoke financing solution provided by KKR allows Family Doctor to stay true to its mission of being 100% doctor-owned and providing quality care and services.
“As we look forward to scaling our impact and our next phase of growth, we are delighted to collaborate with KKR on a flexible finance solution that not only is tailored to our stage of growth but also brings KKR’s global knowledge and know-how to our platform,” he added.
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