Announced
Financials
Sources
Tags
Friendly
Scheme
Pending
Acquisition
dental care
Health Care Services
health care solutions
New Zealand
Majority
Private Equity
Public
Single Bidder
Cross Border
Synopsis
Investment firms BGH Capital and Ontario Teachers’ Pension Plan Board offered to acquire Abano Healthcare, a New Zealand-based health care company, for $173m. The scheme price represents a 70% premium to Abano’s share price. "The dental industry is highly sensitive to the Covid-19 environment, with only limited emergency care able to be provided during level 3 and 4 lockdowns, and the pandemic has had a material impact on Abano’s business and cashflows this year. While Abano is expected to recover to pre-Covid trading levels, the timing of this remains uncertain and the risks of further impacts from Covid-19 can be expected in the near term," Pip Dunphy, Abano Chair.
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