Healthscope Limited, Ironbridge Capital and Archer Capital - proposed acquisition of Symbion Health Limited
Type of assessment
Informal Review
Reference
28124
Acquirer(s)
Healthscope Limited Ironbridge Capital Archer Capital
Target(s)
Symbion Health Limited
Industry
Health, pathology
Summary
A consortium comprising Healthscope Limited, Ironbridge Capital and Archer Capital proposed to acquire Symbion Health Limited. Healthscope proposed to acquire Symbion Health's pathology, medical centres and diagnostic imaging businesses. Ironbridge Capital and Archer Capital proposed to acquire Symbion Health's pharmacy distribution and consumer businesses.
Outcome of assessment
Not opposed subject to undertakings
Total review days *
69
Commenced public review
1st May 2007
Date completed
15th August 2007
Market definition
Please see detailed Public Competition Assessment below.
Competition analysis
Please see detailed Public Competition Assessment below.
Public competition assessment
Public Competition Assessment 19th September 2007 D07+88368.pdf (1.1 MB)
Statement of issues
Statement of Issues 20th June 2007 D07+54162.pdf (125.1 KB)
The Australian Competition and Consumer Commission will not oppose Healthscope Limited's proposed...
Issued: 15th August 2007
Release # MR 219/07
Review timeline
Date
Event
1st May 2007
ACCC commenced review under the Merger Review Process Guidelines.
18th May 2007
Closing date for submissions from interested parties.
12th June 2007
Former proposed date for announcement of ACCC's findings, amended to allow for further market inquiries.
20th June 2007
ACCC published a Statement of Issues outlining preliminary competition concerns. New round of market inquiries commenced.
11th July 2007
Closing date for submissions relating to Statement of Issues.
12th July 2007
ACCC requested further information from Healthscope, response expected by 20 July 2007. ACCC expects to announce findings within three weeks of Healthscope's response. ACCC timeline suspended.
23rd July 2007
ACCC received further information from Healthscope. ACCC timeline recommenced.
26th July 2007
Draft 87B undertaking proffered by Healthscope. ACCC commenced market inquiries.
3rd August 2007
Closing date for submissions relating to draft 87B undertaking proferred by Healthscope on 26 July 2007.
15th August 2007
ACCC announced it would not oppose the proposed acquisition, subject to the ACCC accepting the 87B proferred by Healthscope.
12th October 2007
Healthscope submitted a revised 87B undertaking for ACCC consideration.
25th October 2007
ACCC consented to withdrawal by Healthscope of 87B undertaking accepted by the ACCC on 15 August 2007. ACCC accepted replacement 87B undertaking proffered by Healthscope. ACCC also accepted 87B undertaking proferred by Symbion.
27th November 2007
Healthscope announced it had decided not to proceed with the proposed acquisition.
31st March 2009
Healthscope sought consent to withdraw 87B undertaking.
4th May 2009
Symbion sought consent to withdraw 87B undertaking.
20th May 2009
ACCC consented to withdrawal by Healthscope and Symbion of 87B undertakings accepted on 25 October 2007.
* Total Review days = Total business days less public holidays and time during which the review was Suspended.
