Tend Health today announced it has entered into an agreement to acquire the medical division of Green Cross Health Limited, which operates general practice and urgent care clinics under The Doctors brand.
When completed, the transaction will bring together Green Cross Health’s established medical network of 65 medical centres, trusted local clinical teams and Tend’s innovative primary healthcare technology platform.
James Robinson, Co-CEO and Co-Founder of Tend Health, said: “This is an important moment for Tend and, when completed, for the future of primary care in Aotearoa me Te Waipounamu (New Zealand). The Doctors is a well-established community healthcare provider, with strong relationships across the communities they serve. Our focus is on enhancing care and health outcomes, while supporting continuity for patients, clinical teams and local communities.
“With the backing of iwi and other leading New Zealand investors, Tend has the opportunity to maintain local ownership of this important primary care infrastructure, while continuing to build a long-term healthcare business focused on supporting access, improving patient health outcomes and sustainable primary care.”
Ngāi Tahu Holdings, an existing shareholder in Tend, is supporting the proposed transaction and will increase its shareholding in Tend, with Ngāti Whātua Ōrākei also increasing its stake as a key iwi partner and shareholder, alongside new shareholder Nāti Growth and existing shareholder Ahuahu Group.
Together, this reflects strong iwi investor support for Tend’s long-term growth, with iwi investors becoming one of Tend’s largest shareholder groups alongside a broader base of leading New Zealand investors and existing shareholders.
It represents a strong New Zealand investment group backing Tend’s next stage of growth, supporting local ownership and our long-term purpose to help New Zealanders be the healthiest people in the world.
Tend’s technology-enabled model has supported more convenient, connected patient experiences across its existing network, including improved access to care for high-needs patients, while keeping trusted clinical relationships and patient care at the centre.
Todd Moyle, Chief Executive of Ngāi Tahu Holdings, said, “Ngāi Tahu Holdings is excited to support a New Zealand owned business that is building a technology enabled platform to improve access, patient experience and health outcomes.
“Over the past few years, Tend has continued to invest in technology that supports primary care, with a focus on improving access, patient experience and continuity of care”.
Lisa Davis, Chief Executive of Ngāti Whātua Ōrākei, said: “Ngāti Whātua Ōrākei is proud to support Tend’s next phase of growth alongside Ngāi Tahu Holdings, Nāti Growth and other Aotearoa me Te Waipounamu investors. We’re already seeing positive impacts through our partnership with Tend and are excited about what could be achieved together in the future.
“We see primary care as critical social infrastructure, and this proposed acquisition reflects our commitment to long-term investments that are responsive to the needs of whānau, communities and patients across the motu.”
Cecilia Robinson, Co-CEO and Co-Founder of Tend Health, said: “This is about building for the long term. Primary care is one of the most important parts of our health system, with a vital role in prevention, early identification of health concerns and helping our people stay well.
“Within the next 20 years, it is projected that one in three tamariki in Aotearoa me Te Waipounamu will identify as Māori. That is why we believe strong iwi and Māori partnerships matter deeply for the future of health in New Zealand.
“It will also build on our partnership with Ngāti Whātua Ōrākei, increase Ngāi Tahu Holdings’ shareholding in Tend and bring Nāti Growth alongside other leading local investors supporting the next stage of Tend’s growth.
“We are also grateful for the continued support of existing shareholders, who have backed Tend’s long-term vision for primary care in Aotearoa me Te Waipounamu.
“For us, this is about purpose and people. Tend was founded to help New Zealanders be the healthiest people in the world, and our people remain at the heart of everything we do. We have enormous respect for the legacy of The Doctors, and for the clinical teams who have built trusted relationships with patients and communities over many years.
“Our focus is on supporting that legacy while continuing to invest in the future of primary care in Aotearoa me Te Waipounamu. This is an opportunity to build a 100-year Kiwi-owned healthcare business for future generations.”
Transaction details
The transaction is subject to Green Cross Health shareholder approval. The transaction is expected to be completed by 31 July, subject to that approval being received. Green Cross Health shareholders will receive a notice of meeting for that approval in due course.