BGH Capital and OTPP to acquire Abano for $173m.

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.