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13-02-2023, 11:58 PM
#511
https://businessdesk.co.nz/article/b...t-be-surprised
Who owns our GPs? You might be surprised
An interesting article covering corporatisation of Kiwi GP's
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16-02-2023, 01:48 PM
#512
https://www.nzx.com/announcements/406808
Green Cross Health has become aware of speculation in the Australian media about a potential transaction to sell its Community Health division to Anchorage Capital Partners.
GXH confirms that it is currently in discussions with Anchorage Capital Partners in respect of such a transaction. There is no certainty that those discussions will result in a transaction.
GXH confirms it is in compliance with its continuous disclosure obligations.
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16-02-2023, 05:16 PM
#513
Looks like the "Keep Quiet" sprung a leak somewhere
Which waiting room just experienced a bit of leaky symptoms ?
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23-02-2023, 09:30 AM
#514
https://www.nzx.com/announcements/407161
Green Cross Health Limited advises it has entered into an unconditional agreement to sell its Community Health division (Access Community Health and Total Care Health Services) to Australian private equity firm, Anchorage Capital Partners, for an Enterprise Value of NZ$50 million.
Access Community Health has been caring for New Zealand communities since 1927. Today, it has a staff of 3,200 and provides in-home nursing, personal care, rehabilitation, social support and household assistance to more than 33,000 people across New Zealand.
In Green Cross Health’s last financial year, the Community Health division contributed $192m to Group Revenue and $5.6m to group Operating Profit before Interest and Tax.
Green Cross Health expects to receive net cash sale proceeds (after deduction of transaction costs and subject to post-completion adjustments) of approximately NZ$30 million, including $2 million on account of pre-completion dividends from the Community Health division to be paid shortly after completion.
The sale is expected to be completed in the current financial year (ending 31 March 2023).
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23-02-2023, 11:21 PM
#515
Member
Doesn't seem very wise if it contributed $5.6m profit a year and sale proceeds are only $30m? Could someone explain why they would sell? And how they got from $50m to $30m? I'm confused.
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24-02-2023, 12:22 AM
#516
Originally Posted by Elles
Doesn't seem very wise if it contributed $5.6m profit a year and sale proceeds are only $30m? Could someone explain why they would sell? And how they got from $50m to $30m? I'm confused.
possibly a good reason why they may have considered the Offer on the table was too good to ignore
Wonder what that was ?
Increasing Labour costs ?
3200 staff is a lot to have on board
Let's face it - the Operating Profit before Tax & Interest in relation to turnover for the division doesn't seem too high
Perhaps some degearing going on ?
Last edited by nztx; 24-02-2023 at 12:25 AM.
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24-02-2023, 08:37 AM
#517
Member
Originally Posted by Elles
Could someone explain why they would sell?
I would hope it is to focus on, or fund further acquisitions in the medical division ('the doctors') and align it more closely with pharmacy. the closer those two come together, the more protections they will have against online & high street competitors like chem warehouse. so perhaps its semi-strategic.
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03-03-2023, 09:39 PM
#518
https://www.nzherald.co.nz/business/...AF5QNQX3DMS7A/
Only Australasian Costco in-store chemist shop majority owned by Kiwi pharmacist
Goodness - GXH must have been a good leaping stone into where he is now
(Premium)
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24-03-2023, 01:09 PM
#519
Director Craig Brockliss seems to have a lot of faith in this company. No other directors tho ?
https://www.nzx.com/companies/GXH/announcements
Disc: Holder
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04-04-2023, 11:48 AM
#520
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