HESTA part of consortium bidding for Ramsay Health
Industry superannuation fund HESTA has announced it will be a part of a consortium led by KRR that has submitted a non-binding and conditional proposal to acquire Ramsay Health Care Limited.
The super funds said the decision reflected its strong focus on investing in healthcare, which would continue to be one of the fastest growing sectors of the Australian economy.
“We believe this investment has the potential to have a positive impact on patient health and wellbeing in Australia and abroad whilst helping to generate strong returns for our members,” HESTA chief executive, Debby Blakey, said.
“Ramsay’s care-centred culture is at the heart of its business, driven by dedicated healthcare professionals who deliver outstanding patient outcomes every day. They are vital to the ongoing success of Ramsay and are at the forefront of the Consortium’s shared vision for expansion and innovation that can achieve new standards of care and an enhanced employee experience.”
So a super fund controlled by a health industry union is attempting to takeover a major health industry employer? Any Ramsay employees who aren’t union members better join up fast if they want to keep their jobs and get on in their careers. This is the insidiousness of so called “Industry” super.