2007 media releases
| 12/12/2007 | Target's Statement in relation to Primary's bid Symbion Health Limited has today served on Primary Health Care Ltd ("Primary") the target's statement prepared by Symbion Health in relation to Primary's takeover bid dated 4 December 2007 for all of the ordinary shares in Symbion Health. |
| 30/11/2007 | Symbion Health Continues to Reject Primary's $4.10 offer Symbion Health Limited ("Symbion Health") notes the announcement today by Primary Health Care Limited ("Primary") that it will waive the conditions of its offer if it obtains a relevant interest in more than 50% of Symbion Health shares by 10 December 2007. |
| 30/11/2007 | Symbion Health 2007 Annual General Meeting Symbion Health shareholders today approved all items of business put forward at the company's Annual General Meeting held in Melbourne today. |
| 27/11/2007 | Revised Proposal with Healthscope and the IAC Consortium will not Proceed Symbion Health Limited ("Symbion Health") today announced that the Australian Tax Office ("ATO") has ruled that Symbion Health cannot benefit from scrip for scrip CGT roll-over relief in relation to the proposed diagnostics transaction with Healthscope Limited ("Healthscope"). |
| 23/11/2007 | Federal Court Dismisses Primary's Action The Federal Court today comprehensively dismissed the proceedings commenced by a subsidiary of Primary Health Care Limited (Primary) against Symbion Health and its directors in relation to the Revised Proposal with Healthscope Limited (Healthscope) and the IAC Consortium and ordered Primary to pay the legal costs of Symbion Health and its directors. |
| 23/11/2007 | Misleading and Deceptive Statements by Primary Health Care Symbion Health Limited ("Symbion Health") announced that its lawyers have written to Primary Health Care Limited ("Primary") outlining what it believes is misleading and deceptive disclosure in Primary's Bidder's Statement, the associated announcement and investor presentation and other subsequent announcements in relation to Primary's proposed takeover offer. |
| 08/11/2007 | Symbion Health Rejects Primary's Inadequate and Highly Conditional Proposed Takeover Offer . The Symbion Health Board unanimously recommends that shareholders reject Primary's inadequate and highly conditional proposed takeover offer |
| 02/11/2007 | Symbion Health Response to Primary's Announcement and Letter Symbion Health Limited ("Symbion Health") notes the announcement made after market close on 1 November 2007 by Primary Health Care Limited ("Primary") in relation to the Symbion Health Explanatory Memorandum ("Explanatory Memorandum") dated 26 October 2007. |
| 26/10/2007 | Release of Symbion Health Explanatory Memorandum and Independent Expert's Report Symbion Health Limited ("Symbion Health") will today lodge with the ASX an Explanatory Memorandum containing details of the revised proposal, being: . the proposed sale of Symbion Health's pathology, diagnostic imaging and medical centres businesses ("Diagnostics Businesses") to Healthscope (the "Diagnostics Transaction"); and . the proposed scheme of arrangement (the "C&P Scheme") under which the consortium comprising Ironbridge Capital and Archer Capital (the "IAC Consortium") will acquire all of the shares in Symbion Health, which at that time will own only the Pharmacy Services and Consumer businesses ("C&P Businesses), together referred to as the "Transactions". |
| 26/10/2007 | Primary Proceedings Against Symbion Without Merit Symbion Health notes that a wholly-owned subsidiary of Primary Health Care Limited ("Primary") today intends to commence proceedings against Symbion Health and the directors of Symbion Health about the form of the resolution to be put to Symbion Health shareholders in respect of the proposed merger of Symbion Health's diagnostics businesses with Healthscope Limited ("Diagnostics Proposal") and the break fee and lock-up obligations of Symbion Health under the Transaction Implementation Deed released to the ASX on 8 October 2007. |
| 22/10/2007 | Symbion Health to Continue with Revised Proposal Symbion Health Limited ("Symbion Health") notes the announcement made today by Primary Health Care Limited ("Primary") that it intends to vote against the proposal by Symbion Health to merge its diagnostics business with Healthscope Limited ("Healthscope") ("the Diagnostics Proposal") and to also vote against the proposed scheme of arrangement in relation to Symbion Health's consumer and pharmacy business ("the C&P Proposal"). |
| 10/10/2007 | Symbion Health Response to Primary Health Care's Announcement Symbion Health Limited ("Symbion Health") notes the announcement made yesterday by Primary Health Care ("Primary") in relation to the revised proposal between Symbion Health, Healthscope and the IAC Consortium ("Revised Proposal") that was announced on 8 October 2007. |
| 10/10/2007 | Symbion Health Rejects Proposal from Primary Health Care Symbion Health Limited ("Symbion Health") today announced that it had rejected a proposal from Primary Health Care Limited ("Primary") for Primary to acquire Symbion Health's medical centres business and selected parts of Symbion Health's pathology and radiology businesses ("Primary's Proposal"). |
| 08/10/2007 | Letter Received from Primary Health Care following Execution of Agreements giving effect to revised Healthscope Merger Proposal Symbion Health Limited ("Symbion Health") today announced that it had received a letter from Primary Health Care Limited ("Primary") which expressed Primary's interest in acquiring Symbion Health's medical centres business and selective parts of Symbion Health's pathology and radiology businesses. |
| 08/10/2007 | Symbion Health and Healthscope Agree on a Revised Proposal to Create Australia's Pre-Eminent Healthcare Services Provider Summary of the Revised Proposal Symbion Health, Healthscope and the consortium comprising Ironbridge Capital and Archer Capital (the "IAC Consortium") have agreed on an alternative transaction structure that, if implemented, will deliver Symbion Health shareholders an implied value of between $4.23 and $4.431 per Symbion Health share (excluding the $0.05 per share 2007 final dividend paid by Symbion Health on 28 September 2007) through a combination of Healthscope shares and cash (the "Revised Proposal"). |
| 25/09/2007 | Symbion Health's Continuing Discussions with Healthscope Symbion Health Limited ("Symbion Health") notes the announcement made today by Primary Health Care Limited ("Primary") in relation to the discussions between Symbion Health and Healthscope Limited ("Healthscope"). |
| 19/09/2007 | Update on Transaction with Healthscope Symbion Health ("Symbion Health") announced today that discussions are continuing with Healthscope Limited ("Healthscope") with a view to determining whether the proposed transaction with Healthscope can be implemented by an alternative structure. |
| 11/09/2007 | Implied value of Healthscope offer for Symbion Health is $4.49 per Share Symbion Health today announced that the Healthscope VWAP used to determine the number of new Healthscope shares that will be issued by Healthscope to Symbion Health shareholders is $5.56. |
| 11/09/2007 | Results of Shareholder Vote on Scheme of Arrangement Symbion Health Limited (Symbion Health) today announced that it had not received adequate votes in favour of the scheme of arrangement with Healthscope. Despite almost unanimous support for the scheme from Symbion Health shareholders other than Primary Health Care, Primary Health Care voted its shares against the scheme and its 20% shareholding was enough to deprive Symbion Health shareholders of the benefits of the merger with Healthscope. |
| 05/09/2007 | Update on Voting Procedures for Scheme of Arrangement The Board of Symbion Health Limited ("Symbion Health") urges all shareholders to complete their proxy forms, and return them by 10am on Sunday, 9 September 2007. The Scheme of Arrangement with Healthscope Limited ("Healthscope") is the only offer that is available to Symbion Health shareholders, and continues to be unanimously recommended by the Symbion Health Directors. |
| 03/09/2007 | Symbion Health continues to recommend that shareholders vote in favour of the Healthscope Scheme Robert Cooke, Symbion Health's Managing Director and Chief Executive Officer said today in response to Primary Health Care's statement "there is only one offer that is available to Symbion Health shareholders and that is the transaction with Healthscope. This is expected to deliver significant benefits for Symbion Health shareholders and I urge all Symbion Health shareholders to complete their proxy forms and lodge them as soon as possible." |
| 22/08/2007 | Symbion Health continuing business EBIT up 17% Symbion Health Limited today announced a 17% increase in continuing business earnings before interest and tax (EBIT) and significant items for the year ended 30 June 2007. Directors declared a fully franked final dividend of 5.0 cents per share. |
| 15/08/2007 | ACCC Approves Acquisition of Symbion Health Limited by Healthscope Limited The Australian Competition and Consumer Commission ("ACCC") announced today that it will not oppose the proposed acquisition of Symbion Health Limited ("Symbion Health") by Healthscope Limited ("Healthscope"). |
| 06/08/2007 | Release of Explanatory Memorandum and Independent Expert's Report Symbion Health Limited ("Symbion Health") today lodged with the Australian Stock Exchange, an Explanatory Memorandum. The Explanatory Memorandum contains details of the proposed scheme of arrangement (the "Scheme") between Symbion Health and its shareholders in relation to the proposed acquisition of all Symbion Health shares by Healthscope Limited ("Healthscope"). |
| 20/06/2007 | Update on Proposals for Symbion Health's Pharmacy Services and Consumer Businesses Background On 29 May 2007 Symbion Health Limited ("Symbion Health") announced that it had entered into a Scheme Implementation Deed with Healthscope Limited ("Healthscope") for the acquisition by Healthscope of all Symbion Health shares on issue. |
| 19/06/2007 | Superior Proposal for Symbion Health's Pharmacy Services and Consumer Businesses On 29 May 2007 Symbion Health Limited ("Symbion Health") announced that it had entered into a Scheme Implementation Deed (the "SI Deed") with Healthscope Limited ("Healthscope") for the acquisition by Healthscope of all Symbion Health shares on issue. Following the acquisition of Symbion Health by Healthscope it is proposed that Symbion Health's Pharmacy Services and Consumer businesses (the "P&C Businesses") will be acquired by Ironbridge Capital and Archer Capital (together the "IAC Consortium") for an enterprise value of $1,043 million. |
| 14/06/2007 | Symbion Health response to media speculation On 1 May 2007 Symbion Health announced that it had received an unsolicited, incomplete and non-binding proposal from a consortium comprising Healthscope Limited, Ironbridge Capital and Archer Capital for the acquisition by Healthscope of all Symbion Health shares on issue and the divestiture of Symbion Health's pharmacy services and consumer businesses to Ironbridge Capital and Archer Capital (the "Proposed Transaction"). |
| 29/05/2007 | Healthscope and Symbion Health to create Australia's pre-eminent healthcare services provider Healthscope Limited ("Healthscope") to acquire Symbion Health Limited ("Symbion Health") for a combination of cash and Healthscope shares for an implied value of between $4.30 and $4.50 per Symbion Health share inclusive of any Symbion Health 2007 final dividend. |
| 01/05/2007 | Ownership proposal received Symbion Health Limited (ASX: SYB) announced it has received an unsolicited, incomplete and non-binding proposal from a consortium comprising Healthscope Limited, Ironbridge Capital and Archer Capital. |
| 28/02/2007 | Symbion Health reports 16% increase in 1H07 earnings before interest and tax (EBIT) Symbion Health Limited today announced a 16% increase in continuing business earnings before interest and tax (EBIT) for the six months ended 31 December 2006. Symbion Health's Directors declared a fully franked final dividend of 4.25 cents per share. |
| 06/02/2007 | Symbion Health reaffirms its position in relation to the proposal from Primary Health Care Symbion Health Limited (Symbion) clarifies the events prior to and the details of the inadequate proposal from Primary Health Care Limited (Primary) to merge with Symbion by acquiring all the shares in Symbion. |
| 01/02/2007 | Symbion Health appoints new non-executive director Symbion Health is pleased to announce the appointment of Dr Christine Bennett as a new non-executive director to the Symbion Health Board. |
| 30/01/2007 | Symbion Health notes Primary Health Care's shareholding Symbion Health Limited notes the substantial shareholder notice lodged yesterday by Primary Health Care Limited, stating it had a relevant interest in 33.9 million Symbion Health shares, equating to an interest of 5.25%. |