“The company has sent all lenders a letter detailing and committing to a transition of control to lenders. This can be undertaken without the need for costly enforcement proceedings or any lender-led process and with minimal disruption for staff or hospital operations,” Healthscope said.
“An orderly transition will also provide assurance to the multiple parties that have expressed interest in acquiring the business and enable Healthscope’s sale process to move forward efficiently.”
Healthscope has a cash balance of $110 million, which its management says is enough to keep the business operating through an ownership change.
Healthscope’s debt has been trading between 30¢ to 50¢ in the dollar, which means an acquirer would likely pay about $300 million to $400 million if it wanted to buy the whole company.
(20min delay)