SYB symbion health limited

primary health intentions

  1. 92 Posts.
    Mr Dixon said Healthscope was on track to take over Symbion despite rival Primary Health Care Ltd taking a significant stake in the target of 13.6 per cent.

    "I don't know Primary's intentions at all, but they certainly haven't contacted us," Mr Dixon said.

    "We're very confident of our position in terms of the deal and the benefits to Symbion shareholders.

    "We welcome Primary as a shareholder.

    "It (the takeover deal) is still on track."

    Mr Dixon said Primary's stake of 13.65 per cent in Symbion was "nowhere near enough" to block Healthscope's takeover of Symbion via a scheme of arrangement.

    Symbion shareholders will meet to vote on the Healthscope takeover offer on Tuesday, September 11.

    Meanwhile, independent expert Ernst & Young said Healthscope's offer was in the best interests of Symbion shareholders.

    Symbion was also forecasting a net profit attributable to members of $97.68 million for fiscal 2007, up 16.4 per cent on a profit of $83.9 million in the prior year.

    Symbion's revenue was expected to increase 10.8 per cent to $3.77 billion, with revenue lifting across all divisions. Pharmacy services contributed the biggest increase.

    Healthscope shares were down one cent to $5.40 at 1225 AEST, while Symbion shares fell five cents to $4.06 and Primary lost seven cents to $11.97.

 
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Currently unlisted public company.

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