Approved · Waiver · decided in 28 days, 28 July 2026
UnclassifiedWA-80025ACCC register
A consortium led by Black Kite Partners, HarbourVest Global Private Solution, and MA Financial Group has acquired DR2 Holdings Pty Ltd. The transaction involves Galileo BidCo Pty Ltd acquiring 100% of the share capital in DR2, a holding company for businesses providing telehealth and face-to-face medical consultations, including after-hours and in-hours services.
Black Kite Partners Pty Ltd ( Black Kite ), HarbourVest Global Private Solution SICAV S.A. ( HarbourVest ) and MA Financial Group Limited ( MA Financial ) are private capital investors (together, the Acquirers ). DR2 Holdings Pty Ltd ( DR2 ) is the holding company of businesses primarily involved in the supply of telehealth and face-to-face consultations. Its bulk-billed after-hours consultations are completed through approved medical deputising services, National Home Doctor Service Pty Ltd (trading as 13Sick) and Doctorsquare Pty Ltd (trading as DoctorDoctor). Its in-hours (daytime) consultations are completed through 24-7Medcare and are either bulk-billed or privately paid. DR2 also conducts a surgical assistant placement service through Australia Surgical Assisting. The Acquisition consists of two parts: HoldCo acquisition: related entities of Black Kite, HarbourVest, MA Financial and some current management shareholders of DR2 will acquire interests in Galileo HoldCo Pty Ltd ( HoldCo ) DR2 acquisition: Galileo BidCo Pty Ltd ( BidCo ), a wholly owned subsidiary of HoldCo, will acquire 100% of the share capital in DR2. Together, the Acquisition involves: related entities of Black Kite and HarbourVest acquiring new interests in DR2 MA Financial rolling over its existing interest in DR2, and transferring its interest in DR2 to another related entity and MA-managed fund some individual shareholders rolling over their existing interest in DR2 other existing investors in DR2 exiting their interests in DR2.