1. Healthscope Ltd., Australia's second-biggest hospital owner, is seeking a bigger share of health care spending in Australia, where the proportion of retirees will double by 2051.
2. It has offered to buy Symbion Health Ltd., Australia’s largest health-care company for A$2.8 billion ($2.3 billion), in the nation's largest health-care takeover. Symbion has more than 900 pathology, medical centers and laboratories that performs 12 million blood tests and X-rays each year.
3. Including debt, the offer values Symbion at A$3.6 billion, or 15.1 times 2006 earnings before interest, tax, depreciation and amortization.
4. Buyout firms Ironbridge Capital and Archer Capital will take control of Symbion's drug distribution business that provides products to 3,000 pharmacies and hospitals, and a unit that makes vitamins including the Cenovis and Nature's Own brands.
5. Healthscope has arranged loans with Australia & New Zealand Banking Group Ltd. to fund its A$474 million cash component of the deal. Ironbridge and Archer will provide A$721 million in cash.
6. Healthscope, which owns or manages 45 hospitals, is targeting annual savings of A$79 million by combining laboratories, technology systems and head offices.
It pays to be alert about revenue opportunities
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