Luye Group Hires UBS to Find Buyer for Aurora, AFR Reports

Luye Medical Group, an Asia Pacific private healthcare provider, has hired UBS Group AG to seek a buyer for its Aurora Healthcare Australia Ltd. unit, the Australian Financial Review reported.

Luye and the Australian division of UBS are seeking to sell Aurora, which owns 25 hospitals and clinics, via auction, AFR reported on Sunday, without saying where it got the information. Aurora describes itself as one of Australia’s largest mental healthcare providers.

Luye’s footprint includes Australia, China and Singapore, according to the company’s website. It has 18 mental health institutions in Australia and entered the Chinese market in 2020. ...