The Sky’s the Limit for HPS
A high calibre management team and position as a market leader in a rapidly growing industry helped HPS secure an important business relationship with private equity firm Blue Sky Alternative Investments last year.
HPS Chief Executive Officer Tony Wyatt said he was thrilled to celebrate Blue Sky Alternative Investments first anniversary since joining Australia’s leading independent pharmacy service provider as a cornerstone shareholder.
“The formation of this relationship has delivered a renewed focus to our group to continue the growth and expansion of the business to increase our market position,” Mr Wyatt said.
Blue Sky Alternative Investments Director Nick Dignam and Managing Director Tim Wilson have joined the HPS Board as Directors, providing strategic guidance and the development of several exciting growth initiatives.
“What we look for is great platform businesses in attractive markets that, with the benefit of additional capital and strategic input at the Board level, could really experience accelerated growth,” Mr Dignam said.
“We saw HPS’ high calibre management team and position as a market leader in a rapidly growing industry and knew it was exactly what we were looking for.
“Demand for health care services generally, particularly in the private health sector, continues to grow and it’s an ongoing trend for these hospitals to outsource parts of their service provision.
“They either see it as non-core or that an expert can provide a better service than they can internally. The latter is where HPS fits and we’re committed to helping deliver a better clinical and economic outcome for the business.”
Mr Dignam said another key priority was to help HPS continue to build its national footprint.
“It started as a South Australian business that has successfully expanded into other states and territories with big wins recently in Western Australian and the ACT and that’s something they should really be proud of,” Mr Dignam said.
Mr Wyatt said HPS and its network of pharmacies will continue to remain independent and experience significant and sustained growth thanks to its robust strategic plan.
“This is a key milestone in the evolution of HPS which now positions us to take advantage of the multitude of opportunities we have instore,” Mr Wyatt said.
“HPS’ Chairman, Dr Andrew Holsman, and the other HPS Partners and Executive members will remain unchanged and their commitment to the business unwavering.
“It is an exciting time for HPS and we look forward to Blue Sky Alternative Investments continuing to join us on the journey.”
Blue Sky Alternative Investments Limited (Blue Sky) is an Australian Securities Exchange listed alternative asset manager with more than $1.35 billion in assets under management.
More than 70 investment professionals work for the firm at its headquarters in Brisbane and offices in Adelaide, Sydney, Melbourne and New York.