LifeHealthcare Group enters scheme with Pacific Equity Partners

Company News

by Kathy Skantzos

LifeHealthcare Group (ASX:LHC) has entered into a scheme implementation deed with a subsidiary of Australian private equity firm Pacific Equity Partners, Pacific Health Supplies.

The scheme implies a fully diluted market capitalisation for LifeHealthcare of $179 million and an enterprise value of approximately $211 million.

The scheme is subject to approval from shareholders, who will be entitled to receive $3.75 per share.

The price represents a 46 per cent premium to the closing share price on 2 February 2018.

LifeHealthcare will pay a fully franked interim dividend of $0.18 cents per share with $0.08 per share in franking credits attached.

Shares in LifeHealthcare Group (ASX:LHC) are trading 41.25 per cent higher at $3.63.

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.