Listed healthcare investor and operator, Abano Healthcare Group, today reported its results for the six months to 30 November 2008, meeting its earlier guidance with a net profit after tax of $4.1 million.
Continued growth, secure funding and a company which is continuing to track to a record forecast result were the key messages delivered to shareholders today at the Abano Healthcare Group annual meeting in Auckland.
Abano Healthcare Group has today announced the acquisition of Insight Radiology, a highly regarded Specialist 4D Ultrasound Obstetric practice with two clinics in Auckland.
Abano Healthcare Group has confirmed funding arrangements with its banking partners, enabling it to continue the growth of its key businesses.
Abano Healthcare Group has today announced further acquisitions in its dental and audiology businesses extending the networks of both Bay Audiology and Lumino The Dentists in New Zealand.
Abano Healthcare Group advises that on Friday evening it reached a settlement with Crescent in relation to reimbursement by Crescent of the outstanding takeover costs and the dividend payment withheld by Abano.
ABANO Healthcare Group today announced that it has entered the Australian dental market through a partnership with Dental Partners, an Australian-based dental company owned by experienced dental sector executives, dentists and management.
Crescent Capital Partners has not reimbursed Abano for expenses incurred by Abano in connection with Crescent’s failed takeover offer.
On expiry of its takeover offer at 5pm on 14 March 2008, Crescent Capital Partners had received valid acceptances in respect of 18.3% of shares in Abano on issue, sufficient to take its holding to 38.0%.
Abano Healthcare Group has today reconfirmed its guidance for a record 2008 financial year with revenues expected of approximately $125m, EBITDA of $23.9m and a Net Profit After Tax of $7.9 million, and has also released projections for the 2009 financial year.
Directors reiterate Don't Sell recommendation
Abano Healthcare Group has today released the Target Company Statement and an Independent Appraisal Report from KordaMentha, in response to the takeover offer from Crescent Capital Partners Limited.