ASX ANNOUNCEMENTHealthscope Rejects Proposal from PrimaryHealthscope today confirmed it had received and rejected an unsolicited confidential proposal from Primary Health involving the assets of Symbion Health.
This latest proposal was put to Healthscope in writing on Wednesday evening. In contrast to the propositions made by Primary's advisers in brief phone discussions earlier in the week, involving only NSW Pathology, Primary this time expressed selectiveinterest in Symbion's NSW pathology assets, metropolitan Victoria pathology assets,radiology, medical centres and certain IT systems as well as potential commercial and contractual arrangements.
The proposal was made by Primary in a sole capacity no role for a private equity investor was outlined. The proposal related only to Primary's interest in some ofSymbion's assets, not to Symbion as a whole.
Healthscope has evaluated the proposal with the assistance of its advisors and has decided that it is unacceptable. This was communicated to Primary's advisors today. Despite the Primary proposal being marked as "confidential," Healthscope was todaycontacted by media with knowledge of the written proposal.
As a result Healthscope has decided to release this statement today."To reiterate what we have told the market, Healthscope has no intention of entering into any discussion or deals with Primary Health in connection with the Healthscope proposal to acquire Symbion." said Mr Bruce Dixon, Healthscope's Managing Director."The Healthscope proposal to Symbion Shareholders is unanimously recommended by the Symbion Board and is the only proposal before shareholders.
Healthscope expectsthe vote on the Scheme to take place as scheduled next Tuesday and urges all Symbion shareholders to provide their proxies as soon as possible," he said.
SYB Price at posting:
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