The Zoo scan

The business of general practice, daily

Monday 3 August 2026

Four items. HotDoc's founder has stepped back five months after Potentia Capital's purchase, with an AirTree operating principal in as acting chief executive. No new Australian GP deal has reached the ACCC register since Partnered Health's 3 July notification, and Green Cross Health has completed its New Zealand sale of The Doctors. Fourteen practices are on the market across New South Wales, Victoria, Queensland and Western Australia, from $75,000 at Penrith to $6.2m in western Sydney.

Migrations · GP and primary-care ownership and M&A
HotDoc's founder steps back five months after Potentia's purchase; no new Australian GP deal on the register since 3 July; Green Cross completes its New Zealand sale of The Doctors Confirmed

Ben Hurst has stepped back as chief executive of HotDoc after fourteen years, and David Parfett, an operating principal at AirTree Ventures who has sat on the HotDoc board for three years, has taken the role on an acting basis. The company announced the change on 31 July and Hurst stays on as an adviser. Potentia Capital's purchase of the business was confirmed on 18 February this year, and the Australian Financial Review reported at the time that the price likely fell between $250m and $300m, a figure the parties have not confirmed.

Parfett comes from the board rather than from outside, and the appointment is acting rather than permanent, so a search is presumably still running. The operational point for practice owners is narrower than the change of title. Booking, recalls and patient messaging for a large part of Australian general practice now run on a platform owned by a private equity firm and led on an interim basis. HotDoc had 23,000 practitioners on the system and around 2.5 million appointments a month when the sale was confirmed in February.

No new Australian GP practice acquisition has reached the ACCC acquisitions register since Partnered Health's Ryan Plaza notification on 3 July. That matter, MN-15027, a bid for the Medicine on Second clinic at Maroochydore, is still at Phase 1 with no determination published, and the statutory determination period runs to 14 August. The Bupa-Partnered Health parent transaction has not appeared as a separate notification, and the Foreign Investment Review Board approval that deal needs is outstanding.

In New Zealand, Green Cross Health completed its NZD 270m sale of The Doctors to Tend Health on 31 July, confirmed in an announcement to the NZX that day. Shareholders had approved the sale on 14 July, and the price, set in the 1 June agreement, is subject to net debt and working capital adjustment. The Doctors, 65 clinics and more than 400,000 enrolled patients, stays in New Zealand ownership under Tend, a digital-first primary care provider. Green Cross now refocuses on pharmacy.

3 August 2026 National
Habitat · policy and regulatory watch
  1. The Foreign Investment Review Board condition review. Under the foreign investment reform framework Treasury released on 19 May, the Government has been reviewing the conditions on existing FIRB approvals since 1 July, starting with tax conditions, and expects to open public consultation on ineffective conditions in August. It bears on foreign buyers of Australian health assets, the Bupa-Partnered Health deal among them. Treasury: review of ineffective conditions Clifford Chance
  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.
The herd · market and workforce
Two GP practices have opened in the past four weeks, both in New South Wales Confirmed
  • Appin, NSW, 3 GPs, Appin Healthcare Centre, a fully bulk-billing practice, opened July 2026. Practice website
  • Newcastle West, NSW, 6 GPs, Parry Street Family Practice, a purpose-built private-billing practice, opened July 2026. Practice website

Openings confirmed in the four weeks to 3 August 2026. Town, state, GP count and billing as each practice publishes them. More practices appeared on the booking platforms this week and are being confirmed before they are named.

4 weeks to 3 August 2026 NSW
Fourteen GP practices are on the market across four states, plus a regional Victorian allied health practice at more than $360,000 EBITDA Confirmed

New South Wales

  • Petersham, 4 GPs, a bulk-billing practice in Sydney's inner west with 27,000 patients. $550,000 plus stock. SEEK Business
  • Western Sydney, a medical centre with a dental surgery. $6,200,000, business only. Mixed medical and dental. SEEK Business
  • Penrith, an accredited medical centre. $75,000. SEEK Business Business For Sale
  • Albury, a regional border practice in a DPA and MMM2 location. $375,000. SEEK Business
  • Edgecliff, a cosmetic, skin and GP clinic of twelve years with 8,400 patients. $220,000. Mixed cosmetic and general practice. SEEK Business

Victoria

  • Broadmeadows, a family medicine and general practice clinic. $1,000,000. SEEK Business
  • Melbourne's north-west, a long-standing GP practice. $500,000. SEEK Business
  • Inner east Melbourne, a medical centre. $545,000. SEEK Business
  • Rowville, a long-established AGPAL-accredited practice. $420,194. SEEK Business
  • Melbourne outer south-east, 3.5 FTE GPs, a family medicine practice coming to market. Medical Business Brokers

Queensland

  • Brisbane, an established GP clinic with a freehold opportunity and $1.5m annual billings. SEEK Business
  • Gold Coast, a medical centre with a large patient base. $335,000. SEEK Business
  • Hillcrest, a well-established GP practice. SEEK Business

Western Australia

Allied health

  • Regional Victoria, a physiotherapy and exercise physiology clinic funded through the NDIS and the TAC. Around $1.5m revenue and more than $360,000 adjusted EBITDA, with 78 per cent of income from government and insurance funding and 88 per cent of revenue generated by staff rather than the owner. Freehold available to the right buyer, vendor willing to stay on. Expressions of interest. Medical Business Brokers

Every listing above was checked on its own page on the morning of 3 August 2026, and anything sold, under contract or under negotiation has been left off. Town, state, price and GP count as the broker publishes them; anonymous listings are not named, and where a broker states no price the practice is listed without one. Allied health practices join this block from today, because they compete for the same buyers and the same premises as general practice.

3 August 2026 NSW, VIC, QLD, WA
Fresh tracks · what we're watching

Private equity in clinician-owned and adjacent health services, the pool GP buyers come from.

  1. National Dental Care. Crescent Capital has Morgan Stanley selling the group after more than a decade of ownership, reported by AFR Street Talk on 18 June, with no update since. Any multiple that process discloses is a rare public comparable for a clinician-owned roll-up.
  2. Greencross. TPG is working on a plan B for the veterinary and pet-care group after a sale process that did not produce a buyer. Not primary care, and it is the clearest recent read on what a large Australian clinician-staffed network fails to fetch. AFR: TPG works on plan B for Greencross
  3. Estia and Anglicare SA. Estia, the residential aged care platform Stonepeak is acquiring, notified the ACCC on 24 July of a bid for six aged care homes owned by Anglicare SA. A bolt-on lodged 25 days after its own foreign investment notification. ACCC acquisitions register, MN-55029
  4. KKR and FYihealth. The waiver granted on 22 July required optometrists and management to roll a minimum of about 20 per cent of the acquirer's equity, with the option to roll more. The rollover floor is the term to watch, because it sets what a clinician owner keeps in the business after a sale. ACCC waiver register

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.

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