Global Health Partner AB to the stock exchange
Global Health Partner AB (”GHP” or the “Company”) – a Swedish healthcare company operating specialised clinics in Sweden and UK – has applied to list on the OMX Nordic Exchange Stockholm.
Since its foundation in 2006, GHP has undertaken an extensive acquisition and growth strategy and established clinics in the areas of spine surgery, dental implant surgery, bariatric surgery and obesity treatment, and orthopaedic surgery and sports-medicine. GHP has the ambition to take the delivery of healthcare service beyond the standards and expectations created by the first generation of European-based private healthcare providers and to continue its growth strategy.
In order to facilitate GHP’s continued development and growth, and to fulfil OMX Nordic Exchange Stockholm’s ownership distribution requirements, the Board and the company’s shareholders have resolved to broaden the shareholder base by a new issue of shares. The Company Committee of the OMX Nordic Exchange Stockholm has decided to approve GHP for listing provided that the distribution requirement is met.
• The Offer comprises a total of 5 300 000 newly issued shares in GHP, corresponding to 8.2% of the total post-offering shares and votes in the Company, assuming full acceptance of the Offer
• Subscription price SEK 14.0 – 15.0 per share
• Application period for customers of SEB Retail Banking and Avanza September 22 – October 1, 2008
• Expected first day of trading is October 3, 2008 on the OMX Nordic Exchange Stockholm, Small Cap, Health Care
“A listing of GHP on the OMX Nordic Exchange Stockholm has been under consideration for a long time and we believe it will bring several advantages to GHP. The majority of our current operations are carried out in Scandinavia and our corporate headquarters and senior management are based in Gothenburg. In addition, the perceived appetite for GHP shares, among both institutions and private investors, and the access to the capital markets in Sweden are improved by this listing”, says Per Båtelson, CEO and Co-Founder of GHP.
”GHP has demonstrated a strong development since its foundation in 2006. Subsequent to achieving a listing on the OMX Nordic Exchange Stockholm, and completing the equity issue and the broadening of the shareholder base realized in connection with this, the Company will be equipped to realize its growth ambitions and to further improve its position within medical treatments, both in the Nordic markets and internationally“, says Urban Jansson, Chairman of the Board of Directors of GHP.
GHP in brief
GHP’s focus is to provide highly specialised healthcare services in a limited number of selected treatment areas (Service Lines) and to become a leading company on a global basis in these. GHP has the ambition to take the delivery of healthcare service beyond the standards and expectations created by the first generation of European-based private healthcare providers. GHP is a small, non-bureaucratic organisation with short lines of communication and with significant experience in establishing profitable healthcare businesses.
GHP was founded in the spring of 2006 by Per Båtelson, founder and former CEO of Capio, together with Johan Wachtmeister, former CEO of Ledstiernan and co-founder of Stockholm Spine Center. In August 2006, GHP was admitted to trading on the AIM list of the London Stock Exchange.
In connection with the recently implemented scheme of arrangement, GHP has been delisted from AIM and the last day of trading on AIM was September 16, 2008.
Today, GHP operates 11 clinics and has corporate offices in Gothenburg, London and Stockholm. The headquarters are located in Gothenburg. GHP has 235 employees including all clinic employees. So far, GHP focuses on 4 therapeutic areas/Service Lines:
• Spine – Spine surgery and rehabilitation (3 clinics)
• Dental – Specialist dentistry (5 clinics)
• Obesity – Obesity treatment and surgery (2 clinics)
• Orthopaedics – Sports traumatology and prosthetic surgery (2 clinics)
GHP’s customers can be divided between public contracts (i.e. regional counties and public social insurance offices), private insurance companies and private individuals. However, regardless of the customer, GHP focuses on providing high quality specialist healthcare services to individual patients.
GHP has set the following financial targets for the coming three year period:
• Average annual turnover growth of above 30 per cent per year. However, additional acquisition opportunities could raise this figure substantially
• Reaching a consolidated operating margin of at least 10 per cent during financial year 2011, after all central, development, start-up and project costs
Facts regarding the Offer
The Offer comprises a new issue of a total of 5 300 000 shares in GHP and is offered to customers of SEB and Avanza.
The subscription price per share will, based on demand and the overall market conditions, be set by the board of GHP, in consultation with SEB Enskilda, within the range SEK 14.0–15.0. The subscription price will be announced publicly on or about October 3, 2008.
Subject to the Offer being fully implemented the Offer will provide SEK 74-80 million, before issue costs. GHP reserves the right, in the event of oversubscription, to increase the number of shares in the new issue with a maximum of 3 000 000 shares to a maximum of 8 300 000 shares. Subject to such increased Offer being fully implemented, the Offer will provide GHP with SEK 116-125 million before issue costs.
The prospectus will be available to download on GHP’s web page, www.globalhealthpartner.com, and can be obtained at any SEB branch office in Sweden.
SEB Enskilda is sole lead manager in the offer.
Preliminary Timeplan:
Prospectus made public September 19, 2008
Application period for customers of SEB Retail Banking/Avanza September 22 – October 1, 2008
First day of trading October 3, 2008
For more information please see the complete Swedish version of the prospectus available at www.globalhealthpartner.com.
Global Health Partner AB (publ)
For more information contact:
Per Båtelson, CEO tel +46 (0)705 955 700, Per.Batelson@ghpartner.com