Clarendon Lawyers recently advised the founder of Transform Physio (Transform) on the sale of its physiotherapy and rehabilitation services business to a wholly owned subsidiary of Zenitas Healthcare Limited (ASX:ZNT) (Zenitas).
Operating in Victoria and Tasmania, Transform was founded by Jonathan Cramb in 2005 and has a team of over 100 mobile physiotherapists who deliver care in 75 residential aged care facilities and respond to referrals from over 30 home care package providers.
Zenitas is a listed community-based healthcare operator providing integrated care solutions that are primarily aimed at reducing the reliance on high cost acute and post-acute institutional care. Jonathan Cramb will continue to be involved in the Transform business going forward as Zenitas looks to strengthen its offering in the residential and community care physiotherapy markets of Victoria and Tasmania.
The Clarendons team was led by Managing Director Tony Symons and Director Alex Bean, who were assisted by Senior Associate Alexandra Gleed.
Mr Bean congratulated Jonathan on the successful sale of Transform noting that, “Clarendons is thrilled to have assisted with this transaction. It is a testament to the achievements of the business over a long period of time and we look forward to seeing the business continue to thrive under Zenitas”.
Clarendons was assisted by Ashley Walton and James Smith from McGrathNicol on the commercial aspects of the transaction. Zenitas was advised by Maddocks.