PROPRIETARY – AUSTRALIA

Ramsay plays down Brexit risks as recovery starts to show

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Original article by Carrie LaFrenz
The Australian Financial Review – Page: 17 & 22 : 1-Mar-19

Ramsay Health Care has reported a 2018-19 interim net profit of $270.1 million, up 9.6 per cent, while revenue rose by 14.9 per cent to $5.12 billion. Meanwhile, CEO Craig McNally says its UK division is beginning to show some promising signs, although Brexit could pose some short-term challenges. Ramsay’s UK unit generates less than 10 per cent of the private hospital operator’s revenue. McNally says that staffing and supply would be the two biggest areas where Brexit would impact on its UK division.

CORPORATES
RAMSAY HEALTH CARE LIMITED – ASX RHC, CAPIO AB, MONTGOMERY INVESTMENT MANAGEMENT PTY LTD

Healthscope $6 billion bid ‘opportunistic’, but worth a look

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Original article by Jessica Gardner, Sarah Thompson, Anthony Macdonald
The Australian Financial Review – Page: 15 & 22 : 27-Apr-18

Private hospital operator Healthscope has received a $A4.1 billion takeover bid from a private equity consortium led by BGH Capital. Other members of the consortium include AustralianSuper and the Ontario Teachers’ Pension Plan Board. They are offering $A2.36 per share in cash, as well as taking on around $A1.7 billion in debt. Australian Ethical Investment fund manager Andy Gracey considers the bid to be "opportunistic", but one that investors with a more short-term view may consider.

CORPORATES
HEALTHSCOPE LIMITED – ASX HSO, BGH CAPITAL PTY LTD, AUSTRALIANSUPER PTY LTD, ONTARIO TEACHERS’ PENSION PLAN, AUSTRALIAN ETHICAL INVESTMENT LIMITED – ASX AEF, GIC PRIVATE LIMITED, CANADA PENSION PLAN INVESTMENT BOARD, TELSTRA CORPORATION LIMITED – ASX TLS, WATERMARK FUNDS MANAGEMENT PTY LTD, HYPERION ASSET MANAGEMENT LIMITED, ELLERSTON CAPITAL PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG, SUMITOMO CORPORATION

Less popular surgery could hurt

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Original article by Tim Binsted
The Australian Financial Review – Page: 1 & 6 : 4-Feb-16

Figures from Medicare indicate a decline in the growth rate of certain medical procedures. The number of surgical, obstetric and diagnostic procedures increased by 2.2 per cent in the fourth quarter of 2015, compared with the four-year average growth rate of 5.1 per cent. This trend may affect investors’ confidence in Ramsay Health Care and Healthscope.

CORPORATES
RAMSAY HEALTH CARE LIMITED – ASX RHC, HEALTHSCOPE LIMITED – ASX HSO, UNITING CARE, MACQUARIE SECURITIES PTY LTD, ST JOHN OF GOD HEALTH CARE INCORPORATED, AUSTRALIA. DEPT OF HUMAN SERVICES. MEDICARE AUSTRALIA

Medibank accused of bullying in contract talks

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Original article by Jessica Gardner
The Australian Financial Review – Page: 19 : 17-Jul-15

The Australian Private Hospitals Association (APHA) has criticised Medibank Private over its dealings with private hospital operator Calvary Health Care. Medibank abandoned negotiations over a new contract with Calvary in early July 2015, and the APHA has claimed that the private health insurer used bullying tactics. Medibank has rejected the accusations and says it acted appropriately in its negotiations with Calvary.

CORPORATES
MEDIBANK PRIVATE LIMITED – ASX MPL, CALVARY HEALTH CARE LIMITED, AUSTRALIAN PRIVATE HOSPITALS ASSOCIATION LIMITED, RAMSAY HEALTH CARE LIMITED – ASX RHC, HEALTHSCOPE LIMITED – ASX HSO

Pulse sees value in $162m Vision Eye Institute bid

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Original article by Yolanda Redrup
The Australian Financial Review – Page: 16 : 7-Jul-15

Australian-listed private hospital group Pulse Health is offering 1.6 of its shares for every share in Vision Eye Institute, valuing the bid at $A0.88 per share. The deal has the support of Viburnum Funds, which holds major stakes in both groups and would be the largest stakeholder in the combined entity.

CORPORATES
PULSE HEALTH LIMITED – ASX PHG, VISION EYE INSTITUTE LIMITED – ASX VEI, VIBURNUM FUNDS PTY LTD, PRIMARY HEALTH CARE LIMITED – ASX PRY

Medibank flexes muscles, axes Calvary

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Original article by Tim Binsted
The Australian Financial Review – Page: 23 : 2-Jul-15

Negotiations between Australian-listed Medibank Private and Calvary Health Care have failed, prompting Medibank to end its contract with the private hospital group. Medibank and ahm members who use Calvary’s hospitals from 1 September 2015 may incur out-of-pocket expenses as a result, although Medibank will continue to pay some of its customers’ costs. Calvary has indicated that it is keen to resume discussions with Medibank.

CORPORATES
MEDIBANK PRIVATE LIMITED – ASX MPL, AHM HEALTH INSURANCE, CALVARY HEALTH CARE LIMITED, MORGAN STANLEY AUSTRALIA LIMITED

Healthscope offloads pathology business

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Original article by Tim Binsted
The Australian Financial Review – Page: 15 : 24-Jun-15

Crescent Capital has paid $A105m for the pathology assets of Australian-listed Healthscope, with the deal comprising a cash component of $A92.5m and a $A12.5m promissory note. Healthscope CEO Robert Cooke says the deal will allow the group to focus on its core business of private hospitals. In addition to Healthscope’s pathology laboratories and collection centres, the private equity firm will also buy a portfolio of six skin clinic.

CORPORATES
HEALTHSCOPE LIMITED – ASX HSO, CRESCENT CAPITAL PARTNERS LIMITED, SONIC HEALTHCARE LIMITED – ASX SHL, PRIMARY HEALTH CARE LIMITED – ASX PRY, TPG CAPITAL LP, THE CARLYLE GROUP, CLSA AUSTRALIA PTY LTD, NATIONAL DENTAL CARE PTY LTD, LIFEHEALTHCARE GROUP LIMITED – ASX LHC, NATIONAL HEARING CARE LIMITED, SOUTHERN SUN SKIN CANCER CLINICS

‘Unsolicited offers’ for Healthscope arm

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Original article by Tim Binsted
The Australian Financial Review – Page: 21 : 26-May-15

The pathology division of Healthscope boasts a market share of about 13 per cent, but its EBITDA for the first half of 2014-15 fell by 23 per cent to $A9.3m. Factors such as competition in the sector and a reduction in Medicare fees have also affected revenue. Healthscope CEO Robert Cooke says the group is often is approached about selling parts of its business but stresses that a sale process for the pathology unit is not underway.

CORPORATES
HEALTHSCOPE LIMITED – ASX HSO, SONIC HEALTHCARE LIMITED – ASX SHL, PRIMARY HEALTH CARE LIMITED – ASX PRY, CLSA AUSTRALIA PTY LTD, CRESCENT CAPITAL PARTNERS LIMITED, AUSTRALIA. DEPT OF HUMAN SERVICES. MEDICARE AUSTRALIA, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Boomers will keep Ramsay’s hospital beds full

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Original article by Jessica Gardner
The Australian Financial Review – Page: 13 & 18 : 27-Feb-15

Australian-listed Ramsay Health Care has posted a 2014-15 interim net profit of $A191.4m, which is 21.3 per cent higher than previously. The private hospitals group recorded revenue of $A3.3bn for the half-year, an increase of 41.6 per cent. Its Australian division’s EBIT was up 12.6 per cent at $A282.8m and revenue was eight per cent higher at $A2bn. Ramsay expects core net profit for the full year to be 18-20 per cent higher than previously

CORPORATES
RAMSAY HEALTH CARE LIMITED – ASX RHC, GENERALE DE SANTE SA, AUSTRALIAN LABOR PARTY, HYPERION ASSET MANAGEMENT LIMITED

Full beds limit Healthscope’s growth

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Original article by Jessica Gardner
The Australian Financial Review – Page: 17 : 25-Feb-15

Healthscope has posted a 2014-15 interim net profit of $A58.6m, after a loss for the previous corresponding period. The group’s hospital revenue rose by 6.3 per cent to $A938.9m. CEO Robert Cooke notes that Healthscope’s existing hospitals are overstretched, with just 23 new beds added in the last 18 months. The group aims to open nearly 1,000 additional beds in the next three years

CORPORATES
HEALTHSCOPE LIMITED – ASX HSO, HYPERION ASSET MANAGEMENT LIMITED