Australian health operator bought by US interests

Calcutta News.Net
Monday 19th July, 2010

The board of Australia's second-largest private hospital operator, Healthscope Ltd, has unanimously recommended a US$1.72 billion takeover offer from US private equity firms Carlyle Group and TPG Capital.

Healthscope will receive $6.26 a share for the company.

Based on Healthscope's 317 million shares outstanding, the purchase price will total about US$1.72 billion.

Healthscope directors said the offer price would be reduced by any future dividends it pays to shareholders if the deal is given the go-ahead by shareholders, the courts and other regulatory bodies.

Healthscope, which operates 44 private hospitals, also has pathology facilities in Australia, New Zealand, Singapore and Malaysia.

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