Fisher Funds and Direct Capital have formed a new entity to acquire New Zealand Health Group, the country’s largest community health, disability and wellbeing provider.

 The acquisition will see Fisher Funds and Direct Capital partner with existing Executive Chair, Josephine Gagan, to take ownership from the Catley family and Australian private equity firm Quadrant.

 New Zealand Health Group is the largest provider of community health, disability and wellbeing services across the country with 48 locations nationwide. Through its extensive network, it delivers a broad range of specialised services to more than 70,000 New Zealanders annually.

Fisher Funds Head of Private Equity Michael Walmsley says New Zealand Health Group plays an important role in communities around the country. 

 “Demand for high-quality community health, disability and wellbeing services will continue to grow as New Zealand’s population ages and more people live longer with complex health and support needs.

The Group employs more than 10,000 carers, support workers, nurses and other health professionals across Aotearoa and works alongside government agencies, health authorities, iwi and communities.

This marks Fisher Funds’ first direct investment in a private New Zealand business since it announced the expansion of its private equity programme last year.

 “We have been deliberate in identifying and securing our first direct investment in New Zealand. We believe New Zealand Health Group is a high-quality organisation, with an experienced management team, proven track record and future growth opportunities,” says Walmsley.