KKR picks chairman, CEO for Laser Clinics Australia

Private equity giant KKR is putting its stamp on recently acquired skin care and cosmetic injections clinic owner Laser Clinics Australia. 

Five months after agreeing to buy the Australian company, KKR and co-investor The Growth Fund have tapped former Myer and Medibank Private chairman Paul McClintock to chair Laser Clinics Australia and Luxottica Group executive Anthea Muir as chief executive officer. 

The hires were announced on Wednesday morning. 

"Together they bring a wealth of complementary experiences across the healthcare and consumer services sectors," KKR Australia head Scott Bookmyer said in a statement. 

"Their appointments reflect the board's commitment to sustainable growth and to furthering LCA's industry leadership position."

McClintock is chairman of privately-owned NSW Ports, radiology business I-Med and Broadspectrum and a former chairman of Myer, Medibank Private and Thales Australia, among others. 

Muir is a qualified optometrist and held a number of management positions at Luxottica Group, including her most recent role as head of retail optical for Australia and New Zealand. Luxottica owns a number of Australian businesses including spectacles retailer OPSM and Sunglass Hutt. 

Laser Clinics Australia owns about 90 clinics that provide laser hair removal, cosmetic injectibles and skin treatments to customers. It performed more than 3 million treatments last year. 

KKR won an auction to take a controlling stake in Laser Clinics Australia last year. One of its former investors, mid-market Australian private equity firm The Growth Fund, retained a minority stake. 

Read more: http://www.afr.com/street-talk/kkr-picks-chairman-ceo-for-laser-clinics-australia-20180206-h0v0mq#ixzz56PZoWghC