Private hospital operator Pulse Health is the latest takeover play in the fast consolidating hospital sector, following Archer Capital's $230 million purchase of HealthE care. Macquarie Health founder, Pulse shareholder and Independent Private Hospitals of Australia member, Tom Wenkart, is widely thought to be the behind the highly conditional expression of interest. Healthscope and Archer - which now own HealthE - denied speculation they had lobbed a bid for Pulse, which is advised by Melbourne-based SLM corporate. Some suggested other private equity groups could be interested in the small hospital operator, given speculation of further consolidation in the healthcare sector has been rife since TPG and The Carlyle Group outbid private equity group Kohlberg Kravis Roberts for private hospital operator Healthscope last year. As flagged by Street Talk yesterday, Archer outbid Pacific Equity Partners in the race for healthE on a multiple of about 13 times earnings before interest, tax, depreciation and amortisation for 2011. Although small in scale with a $10.6 million market value, sources said Pulse could be attractive to potential buyers as part of a broader amalgamation of several hospitals.
PHG provides a network of hospitals thruoghout australia and day surgeries ,, some are bega hospital , gympie hosp ,kingaroy hosp , forster hosp to name a few
PHG Price at posting:
4.9¢ Sentiment: Buy Disclosure: Held
