Healthscope Limited, Ironbridge Capital and Archer Capital - proposed acquisition of Symbion Health Limited

Acquirer(s)

  • Healthscope Limited
  • Ironbridge Capital
  • Archer Capital

Target(s)

  • Symbion Health Limited

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.

Market definition

Please see detailed Public Competition Assessment below.

Competition analysis

Please see detailed Public Competition Assessment below.

Timeline

DateEvent
01/05/2007ACCC commenced review under the Merger Review Process Guidelines.
18/05/2007Closing date for submissions from interested parties.
12/06/2007Former proposed date for announcement of ACCC's findings, amended to allow for further market inquiries.
20/06/2007ACCC published a Statement of Issues outlining preliminary competition concerns. New round of market inquiries commenced.
11/07/2007Closing date for submissions relating to Statement of Issues.
12/07/2007ACCC 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.
23/07/2007ACCC received further information from Healthscope. ACCC timeline recommenced.
26/07/2007Draft 87B undertaking proffered by Healthscope. ACCC commenced market inquiries.
03/08/2007Closing date for submissions relating to draft 87B undertaking proferred by Healthscope on 26 July 2007.
15/08/2007ACCC announced it would not oppose the proposed acquisition, subject to the ACCC accepting the 87B proferred by Healthscope.
12/10/2007Healthscope submitted a revised 87B undertaking for ACCC consideration.
25/10/2007ACCC 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.
27/11/2007Healthscope announced it had decided not to proceed with the proposed acquisition.
31/03/2009Healthscope sought consent to withdraw 87B undertaking.
04/05/2009Symbion sought consent to withdraw 87B undertaking.
20/05/2009ACCC consented to withdrawal by Healthscope and Symbion of 87B undertakings accepted on 25 October 2007.