Primary Health Care's A$3.56 billion hostile acquisition of Symbion Health Limited involved complex financial structuring, which was finalised on 30 April 2008.

Minter Ellison handled the financing for the multi-award winning transaction, acting for lead banks Credit Suisse, nabCapital, RBS, Calyon, and Deutsche Bank. The Mandated Lead Arrangers and Underwriters (MLAUs) jointly underwrote acquisition facilities of A$2.538 billion to finance Primary's takeover (including a A$100 million working capital facility).

The MLAUs provided additional commitments of A$2.873 billion to cover a number of alternative acquisition scenarios including a situation where Primary was not able to move to compulsory acquisition of the target's shares.

The merger places Primary in the ASX top 100 companies list and represents a major consolidation in the healthcare sector. The combined enterprise value of Primary/Symbion is A$5.1 billion, making it one of the pre-eminent listed Australian healthcare companies and a leading operator of pathology and radiology businesses, medical centres and health technology.

Following the acquisition in 2008, Minter Ellison handled the 2009 term-out of the facilities ($1.538 billion).