KKR's Bespoke Financing Solution Boosts Australian GP Group Family Doctor

KKR, a global investment firm, has announced a bespoke financing solution for Family Doctor, one of Australia's leading gp clinic networks. The financing will enable Family Doctor to accelerate its growth and expansion plans while maintaining its 100% doctor-owned status.
Founded in 2008, Family Doctor operates more than 110 GP-run clinics across key metropolitan and regional areas in Australia, including Victoria, Queensland, Western Australia, New South Wales, the Australian Capital Territory, and South Australia. The investment comes from KKR's Asia Pacific Credit strategy, which has completed over 50 credit investments in Asia Pacific since 2019, with total transaction value approaching US$21 billion. This partnership will allow Family Doctor to leverage KKR's global network and expertise while pursuing its mission of providing quality healthcare services.
KKR's bespoke financing solution to Family Doctor represents a strategic expansion of its private credit business in Australia's healthcare sector. This structure allows Family Doctor to maintain its 100% physician-owned model while accessing institutional capital for expansion and acquisitions in Australia's primary care market. For kkr investors, this transaction highlights three key aspects of the firm's evolving strategy: (1) continued growth of its Asia Pacific Credit platform, which has deployed nearly $21 billion across 50+ investments since 2019; (2) deeper penetration into Australia's healthcare market, building on previous deals with DBG Health and Lendi; and (3) demonstration of KKR's flexible capital solutions that preserve entrepreneurial control while providing growth capital.
Family Doctor's network of over 110 GP clinics across six Australian territories provides KKR with exposure to a scaled healthcare platform with recurring revenue characteristics ideal for credit investments. The primary care sector offers defensive qualities through economic cycles and benefits from favorable demographic trends. While specific financial terms weren't disclosed, this transaction aligns with KKR's strategy of generating fee-based income from credit investments alongside its traditional private equity business, diversifying its revenue streams and risk profile. The deal structure likely provides KKR with attractive risk-adjusted returns and downside protection compared to equity investments - particularly valuable in the current market environment.
SYDNEY
--(BUSINESS WIRE)-- KKR, a leading global investment firm, and Family Doctor Pty Ltd. (“Family Doctor”), a leading group of general practitioner (“GP”) clinics in Australia, today announced a bespoke financing solution by KKR (through funds managed by KKR) to Family Doctor. KKR’s bespoke financing solution positions the Family Doctor to accelerate its growth and expansion, including through acquisitions.
Founded in 2008, Family Doctor provides comprehensive medical care services through its network of more than 110 GP-run clinics located in key metropolitan and regional areas across Australia, including Victoria, Queensland, Western Australia, New South Wales, the Australian Capital Territory, and South Australia.
KKR’s Asia Pacific Credit platform seeks to provide, among other private credit strategies, bespoke solutions to high-quality companies, entrepreneurs and sponsors that harness the strength of KKR’s private markets investment capabilities and its expertise as one of the largest alternative credit managers globally. These bespoke structures allow entrepreneurs to retain equity ownership and control in their businesses whilst accessing deep capital pools that allow them to meet their objectives to invest in growth or return capital to shareholders.
Diane Raposio, Partner and Head of Asia Credit and Markets, KKR, said, “We are pleased to provide a bespoke financing solution to Family Doctor and Dr. Aziz, who has established one of Australia’s leading networks of GP clinics. Our investment builds on our experience and ability to work with homegrown champions and entrepreneurs in Australia, a key market for KKR across multiple private credit strategies. We look forward to sharing our global network and expertise to support the Company on their mission to extend high-quality patient care and their expansion plans.”
Dr. Rodney Aziz, Founder, CEO and Principal GP at Family Doctor, said, “Over the last more than 17 years, we have grown from a single clinic to one of Australia’s largest medical centre groups. The bespoke financing solution provided by KKR allows Family Doctor to stay true to our mission of being 100% doctor-owned and providing quality care and services. As we look forward to scaling our impact and our next phase of growth, we are delighted to collaborate with KKR on a flexible finance solution that not only is tailored to our stage of growth but also brings KKR’s global knowledge and know-how to our platform.”
KKR is making its investment from its Asia Pacific Credit strategy. In Australia, KKR has provided bespoke solutions to DBG Health (a leading pharmaceutical company) and Lendi (a leading fintech), and financings to companies and sponsors across a range of industries and private credit strategies. Since 2019, KKR has closed more than 50 credit investments in Asia Pacific, accounting for a total transaction value of close to US$21 billion.
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About Family Doctor
Family Doctor is a 100% GP owned group of 110 medical and dental practices across Australia enabling delivery of 3.2 million high quality medical consultations to Australians in metro and regional areas each year. Family Doctor is the fastest growing medical group in Australia, and is keen to support like-minded practice owners with their succession planning.
About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.
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