ICG announces partnership with Canopy Healthcare Group

Two female women medical doctors looking at x-rays in a hospital
ICG, the global alternative asset manager, today announced that its Asia Pacific Fund IV (the “Fund”) has invested in Canopy Healthcare Group, one of New Zealand’s leading healthcare platforms.

The transaction represents the Fund’s fourth acquisition to date.

Canopy Healthcare Group is a significant healthcare platform in New Zealand, with its origins dating back to the 1970s, offering diagnostic imaging, medical oncology and drug compounding services. Canopy is a leading imaging provider and the only multi-clinic cancer care provider within New Zealand. Canopy’s integrated, patient-centric healthcare platform provides a complementary offering to the public sector and grants New Zealanders access to first-rate healthcare.

The transaction builds on ICG’s significant global healthcare experience and the Australasia team’s experience of partnering with doctors and healthcare teams following successful investments in Everlight Radiology and Cura Day Hospitals. ICG has a strong presence in the region providing flexible capital to mid-market businesses across Australia, New Zealand, Japan, South Korea, Hong Kong and SE Asia, with a focus on supporting entrepreneurial founders and management teams.

Tony Moffatt, Canopy Healthcare Group CEO said:

We are excited to partner with ICG to support the next stage of Canopy’s growth. ICG is a group of highly experienced and respected professionals with a deep understanding of the healthcare landscape, who will be able to support the expansion of our service lines.

Wooseok Jun, Head of Asia Pacific Corporate, at ICG, added:

“Canopy is a market leading healthcare platform providing a critical service with a highly compelling business model. We were attracted to both the Canopy business and its impressive management team and doctor group. The business stands to benefit from strong organic growth, and we look forward to working with Tony and the exceptional doctor team as we embark on this new partnership.”

For further information please contact: 

Clare Glynn 
Tel: +44 (0)20 3545 2000 
[email protected] 

About ICG 

ICG provides flexible capital solutions to help companies develop and grow. We are a leading global alternative asset manager with over 30 years’ history, managing $71bn of assets and investing across the capital structure. We operate across four asset classes: Structured and Private Equity, Private Debt, Real Assets, and Credit. 

We develop long-term relationships with our business partners to deliver value for shareholders, clients and employees, and use our position of influence to benefit the environment and society. We are committed to being a net zero asset manager across our operations and relevant investments by 2040. 

ICG is listed on the London Stock Exchange (ticker symbol: ICP). Further details are available at www.icgam.com. You can follow ICG on LinkedIn and Twitter