Biztech Lawyers Advises Perx Health on Dual-Track Exit to Navigator & Clutch 

Biztech Lawyers advises Perx Health on dual-track subsidiary sale to Navigator and Clutch, capping a multi-year partnership from AU–US flip-up to exit.

Biztech Lawyers has advised Perx Health Holdings (Perx) on the dual-track sale of its two operating subsidiaries — Lucky Health Pty Ltd to Navigator Health Holdings (the Navigator Transaction) and Perx Health Operations, Inc. to Clutch Holdings (the Clutch Transaction) — closing back-to-back across Australian and US time zones.

"From our AU–US flip-up in 2023 through to a dual-track exit across two jurisdictions, Biztech has been with us at every stage — lawyers who are genuine partners and who understood what we were building and why. Structuring two simultaneous exits while keeping the entire cap table aligned required a level of commercial coordination and cross-border judgment that very few firms could deliver. Anthony, Chris, and the whole Biztech team made something genuinely complex feel manageable — and we're proud of what we accomplished together." — Scott Taylor, Co-founder, Perx Health 

"The split-sale structure was the right outcome for Perx's shareholders, and for the patients and health systems that Perx Health exists to serve. Getting there required our board, our investors, and our legal team to operate as a single unit across very disparate time zones and two separate legal systems. Biztech held that together from day one of the flip-up through to final closing. We're proud of what we built, and grateful to have had a team that matched our ambition." — Hugo Rourke, Co-founder, Perx Health
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Biztech first advised Perx in 2023 on its flip-up from an Australian-headquartered structure to a Delaware Top-Co — the foundational step that opened the company's US growth runway and, ultimately, made these two exits possible.

"This is the transaction Biztech was built to do," said Anthony Bekker, Co-founder and Managing Director (APAC) of Biztech Lawyers. 

"Two sales. Two buyers. Two sets of governing laws. Back-to-back closings across time zones, with 50+ stakeholders moving in formation. A legacy firm would have run this with lawyers who are not used to working together every day, on separate billing arrangements, with separate internal objectives, and a coordination tax in the middle.

We ran it as one team, on one set of objectives, around the clock, around the world. We've been Perx's lawyers since their AU–US flip-up in 2023 — through capital raises, day-to-day commercial work, every round and every hard conversation. In many ways, Scott and Hugo's journey mirrors our own: coming together across borders to build something bigger than either side could on its own. What energises us is helping founders who tackle complex challenges and win the way they have — with grit, tenacity, and skill. Taking them all the way through to a dual-track exit is exactly why this firm exists."

The two transactions ran in parallel as a single coordinated workstream, spanning more than 50 stakeholders across the founders, two separate buyers, multiple existing investors, and advisors in two jurisdictions. The deal architecture required simultaneous management of board and shareholder approvals, two separate sale and purchase processes governed respectively by Delaware law and New South Wales law, and tightly choreographed closing conditions across both transactions.

"This rather unique dual-track exit was easy to draw on a whiteboard. We knew it would be much more difficult to close," said Chris Spillman, Co-founder and Managing Director (Americas) of Biztech Lawyers. "Two buyers, two sets of conditions, two governing laws, one cap table — and only one path through where everyone gets to closing on time. Hugo, Scott and the Perx board moved with real commercial conviction throughout, and we were proud to move with them."

Biztech Lawyers is a global law firm advising founders, C-suites and boards on capital raising, cross-border expansion, and exits across Australia, the UK, and the United States. The firm's Corporate and M&A team works with growth-stage and venture-backed companies from first raise to final close: delivering the kind of advice that founders and boards can act on, not just file away. 

Helping clients raise capital, expand globally, or exit? Our Corporate and M&A team works with founders and boards across AU, UK, and US to get deals done — providing Actionable Intelligence^TM.

Biztech acted for Perx, with the team led by Co-founder and Managing Director (APAC) Anthony Bekker and Co-founder and Managing Director (Americas) Chris Spillman. Assisting on the Biztech team were Partners Li Reilly (US) and Karine Ahton (UK); lawyers Janzyl Go (AU), Kaitlin Zellner (US), Sharon Taraska (US), Emily Nguyen (US), Francisco Moran (US), and Rujuta Natu (AU); and paralegal Kelly Skalsky (US). Existing Perx shareholders on the cap table included AirTree Ventures, Brandon Capital, Giant Leap Fund, Tenmile and Wildwood Ventures. K&L Gates acted for Navigator. Morgan Lewis and RuggieroIP acted for Clutch.

The Perx mandate has been a key part of Biztech's broader M&A and cross-border practice, which has supported transactions including the $400M acquisition of Quadpay by ASX-listed Zip Co, the Faethm AI acquisition by LSE-listed Pearson PLC, and the Series A through E capital raises and multiple strategic acquisitions for Rokt.

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About Biztech Lawyers

Biztech Lawyers is a global platform law firm for venturous innovators, operating as a single integrated team across Sydney, London, and New York. The firm advises 600+ tech startups, scaleups, and unicorns on M&A, capital raising, cross-border expansion, commercial contracts, data privacy, and IP. Imagination without constraint. Actionable Intelligence^TM. 

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Media Contacts

Anthony Bekker

Co-founder and Managing Director (APAC) 

anthony@biztechlawyers.com

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Chris Spillman 

Co-founder and Managing Director (Americas)

chris@biztechlawyers.com.