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Endeavour adds two practices

WA CORPORATE health operation Endeavour Healthcare is planning a further capital raising and a stock market listing, following its acquisition of two eastern states general practice groups.

The company recently acquired the Melbourne-based Premier Health Care Centres and the Sydney-based 393 Medical Group.

Premier adds some 75 doctors and nine locations to Endeavour’s list.

It has taken over the WA-based Mediplus Healthcare Solutions and the Westpoint Corporation and has GP, pathology, X-ray and occupational health and medicine practices in New South Wales, Victoria and South Australia.

Endeavour CEO Garry Garside said the Premier and 393 acquisitions gave the group a springboard for strong growth in general practice in the NSW and Victorian markets through 2001.

“Premier and 393 are key parts of our plan to build a leading Australian primary healthcare group built on three key elements – high-quality healthcare for patients, good working conditions and career prospects for doctors and a satisfactory return for investors who fund the business,” Dr Garside said.

He said the two groups would be run by their existing management.

Last year Endeavour completed a $70 million capital raising to underpin its growth. Its investors included Kerry Packer’s Consolidated Press Holdings Group, Colonial First State Private Equity Managed Funds, Rand Merchant Bank and the Pratt Group’s Thorney Investments.

Another WA corporate health giant, Foundation, is believed to be in the final stages of placing $50 million from institutions to power its own national growth.

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