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Cura agrees deal to acquire PresMed

Tuesday 5th November, 2024

Cura Day Hospitals Group has signed a binding offer to acquire PresMed Australia – a deal the healthcare operator expects to benefit both patients and employees.

When completed, it will create a combined network of 36 facilities across the country, building resilience in an increasingly competitive industry.

"Our patients remain our top priority, and this acquisition allows us to better serve them with expanded offerings while maintaining our high standards of care and service," said Cura Day Hospitals Group CEO Peter Freeleagus, who is also Chairman of PresMed.

Formed in 1997, PresMed specialises in the establishment and management of surgical day hospitals in partnership with surgeons.

It runs seven day hospitals – five in New South Wales and one each in the Australian Capital Territory and Tasmania – plus a consulting practice.

Mr Freeleagus said Cura's expanded network would enhance employees' career development opportunities, including leadership roles and professional growth pathways.

"This positions Cura as an attractive employer for top talent, with a broader national presence and increased market leadership," he added.

Cura Chairperson Dr Keith Zabell said the acquisition would also benefit doctors – who have a stake in the business along with majority shareholder Intermediate Capital Group.

"Our doctors will now have greater opportunities to collaborate with Cura as well as access to a wider choice of facilities and technologically-advanced equipment," he said.

"We extend a very warm welcome to all the PresMed doctors and staff who will be joining our group."