The Zoo scan

The business of general practice, daily

Monday 27 July 2026

Three items. The register has not moved: no new Australian GP acquisition since Partnered Health's 3 July notification, and still no determination on it. The one development is at cohealth, now operating under a state-appointed board monitor.

Migrations · deals and corporate activity
No new Australian GP deal; the first mandatory-regime determination is still awaited Confirmed

The register has not moved since Partnered Health's 3 July Ryan Plaza notification. That matter, PH Medical Centres' bid for Ryan Plaza Medical Services (MN-15027), which runs the 11-GP Medicine on Second clinic at Maroochydore, sits at Phase 1: effective 3 July, submissions closed 10 July, no determination, statutory period to 14 August. The second-half-of-July timing was the Zoo's expectation, not an ACCC deadline. The notification puts PH Primary Care Group at 67 clinics and about 570 GPs, majority owned by Quadrant Private Equity through QPE Fund 6.

The Bupa-Partnered Health parent transaction, reported by AFR Street Talk on 18 June at about $450m, has still not appeared as a separate notification, so its ACCC and Foreign Investment Review Board approvals remain outstanding. The breach at the target is unresolved: no OAIC outcome and no confirmed record counts, there or at Ochre and HotDoc. In New Zealand, Green Cross Health shareholders approved the NZD 270m sale of The Doctors, around 65 clinics, to Tend Health on 14 July. Completion is targeted for 31 July and the NZX carries nothing on it today.

27 July 2026 National
ACCC acquisitions register Australian Merger Tracker: MN-15027, Partnered Health / Ryan Plaza Medical Services Partnered Health: statement to patients NZX: Sale of Green Cross Health's Medical Division
Habitat · policy and regulatory
cohealth accepts the review's recommendations and begins reform under a state-appointed board monitor Confirmed

cohealth, the Melbourne community not-for-profit whose general practice an independent review found wanting on governance, service delivery and financial sustainability, has accepted all recommendations directed to it. The Victorian Government appointed Chris Altis as board monitor on 15 July for an initial 12 months, attending every board and committee meeting and reporting to government. The review made 13 recommendations and found the three clinics it examined would run at a marginal loss under any management. cohealth is a not-for-profit and is not for sale. The state's response to the failures has been oversight and funding rather than an exit.

15 July 2026 VIC
Premier of Victoria: Strengthening governance at cohealth (15 July 2026) cohealth: client and community information health.gov.au: Independent review of cohealth (primary)
The herd · market and workforce
Four GP practices are advertised for sale, two in Western Australia and two in New South Wales Confirmed
  • Petersham, NSW, 4 GPs, a bulk-billing practice in Sydney's inner west. SEEK Business
  • Western Sydney, NSW, GPs not stated, a medical centre with a dental surgery. SEEK Business
  • Merredin, WA, GPs not stated, a rural practice in the central wheatbelt. The Health Linc
  • Armadale, WA, GPs not stated, a bulk-billing practice coming to market. The Health Linc

Medius check, each listing opened 27 July 2026. Town, state, GP count and source as the broker publishes them; anonymous listings are not named.

27 July 2026 NSW, WA
Fresh tracks · what we're watching
  1. Private equity in clinician-owned services, the pool GP buyers come from. Crescent Capital has Morgan Stanley selling National Dental Care after more than a decade of ownership (AFR Street Talk, 18 June), with no update since, and any multiple that process discloses is a rare public comparable. The KKR waiver for FYihealth on 22 July required optometrists and management to roll a minimum of about 20% of the acquirer's equity, with the option to roll more. That is the kind of term a GP owner meets at sale.
  2. ATO valuation guidance for the 1 July 2027 CGT cost base reset, still not issued. Until the methodology is out, no owner can fix a defensible cost base.
  3. The Commonwealth bulk-billing clinics. Gungahlin (Macquarie General Practice) is due to open in July with no confirmed date. Tuggeranong is open and Molonglo runs from a temporary Phillip site. The six Hunter and Central Coast clinics were announced on 19 May, $25.3m over three years and opening by mid-2027. They go through a Primary Health Network grant round that has not opened.
  4. GP payroll tax. The RACGP wants GPs given 'equal treatment' with non-GP specialists at the 28 November Victorian poll, and the Coalition has pledged an exemption. Both are advocacy, not enacted relief. In force and unchanged: Queensland exempt from December 2024, the Victorian bulk-billing exemption from July 2025, the South Australian bulk-billing exemption from 1 July 2024 and the ACT bulk-billing exemption from 1 July 2025.

Talk to the people who track this market

Own a practice and thinking about your exit, this year or in three? Write to kate.marie@mediusglobal.com.au, in confidence.

Buying, lending or researching? The full operator dataset behind the Zoo is licensed: get the full data.