Acquisitions drive strong performance for Abano

Listed healthcare provider, Abano Healthcare Group, today announced the continued growth of businesses across its portfolio, with recent acquisitions in its Diagnostics, Dental and Audiology sectors, helping to strengthen the Group’s performance.

These acquisitions are in line with the company’s strategy to focus on the private revenue healthcare market.

Bay Audiology, the only national audiology network in New Zealand, has increased its network to 39 branches nationwide, with two clinic acquisitions – one in Taranaki and one in the Waikato area – as well as opening two new clinics since January, in Christchurch and Hastings.

Meanwhile, Lumino Dental, has announced the acquisition of two clinics – Merrilands Dental Centre and Smile Solutions – in New Plymouth, with settlement planned for 30 March 2007.

In February, Abano also announced the acquisition of a second radiology business, Greenlane Imaging in Auckland, which will operate as a subsidiary of the Group’s existing business, Ascot Radiology, from June onwards.

Managing director of Abano, Mr Alan Clarke, said: “Abano has made excellent progress in the first quarter of 2007 with improving operational performances and a number of new acquisitions and organic growth helping to strengthen returns.

“These acquisitions are consistent with our focus being in the private revenue segment of the healthcare and medical services market, and we believe there are numerous opportunities for Abano to expand as demand for private healthcare continues to escalate.”