Pulse Health launches takeover for Vision Eye

Company News

Specialist private hospital provider Pulse Health Limited (ASX:PHG) has launched an off-market takeover bid for provider of specialist healthcare services, Vision Eye Institute Limited (ASX:VEI)
 
Pulse is offering Vision 1.6 Pulse shares for each Vision share held, representing an implied value of $0.88 per Vision share or a 31 per cent premium to the target’s last closing price. 
 
Pulse says the merger will create one of Australia’s leading providers of specialist healthcare services through its combined network and have significant growth opportunities. 
 
Pulse also believes shareholders will benefit from the merged group’s liquidity, larger balance sheet and greater access to capital to fund growth in the fragmented surgery centre market. 
 
Vision Eye Institute has advised its shareholders take no action and says it will be issuing an further announcement later this week. 
 
Pulse Health reported a net profit of $1.26 million in the first half of the 2015 financial year.

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